The Pennant Group, Inc. (NASDAQ:PNTG) Position Lessened by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,776 shares of the company’s stock after selling 3,257 shares during the period. Oppenheimer Asset Management Inc.’s holdings in The Pennant Group were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP raised its stake in The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in The Pennant Group by 460.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after acquiring an additional 2,720 shares in the last quarter. Intech Investment Management LLC bought a new stake in The Pennant Group during the 3rd quarter valued at $232,000. Summit Global Investments bought a new stake in The Pennant Group during the 3rd quarter valued at $254,000. Finally, HighTower Advisors LLC bought a new stake in The Pennant Group during the 3rd quarter valued at $282,000. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $23.10 on Friday. The Pennant Group, Inc. has a fifty-two week low of $18.21 and a fifty-two week high of $37.13. The business has a 50-day moving average of $26.27 and a two-hundred day moving average of $30.31. The stock has a market capitalization of $795.33 million, a P/E ratio of 33.97, a P/E/G ratio of 2.24 and a beta of 2.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial dropped their price objective on The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Oppenheimer lifted their target price on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company assumed coverage on The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group has an average rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Company Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.