Algert Global LLC Has $3.16 Million Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Algert Global LLC boosted its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 18.1% in the third quarter, HoldingsChannel reports. The firm owned 88,502 shares of the company’s stock after acquiring an additional 13,560 shares during the period. Algert Global LLC’s holdings in The Pennant Group were worth $3,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNTG. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Pennant Group by 292.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after acquiring an additional 16,200 shares during the last quarter. Bailard Inc. acquired a new position in shares of The Pennant Group in the 2nd quarter valued at $253,000. Renaissance Technologies LLC increased its position in shares of The Pennant Group by 17.1% in the 2nd quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after buying an additional 39,000 shares in the last quarter. Federated Hermes Inc. lifted its holdings in The Pennant Group by 600.0% during the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock worth $1,253,000 after acquiring an additional 46,324 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after acquiring an additional 77,052 shares during the period. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of PNTG opened at $30.56 on Tuesday. The company has a 50 day moving average of $33.47 and a 200-day moving average of $29.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.05 billion, a P/E ratio of 44.94, a P/E/G ratio of 3.18 and a beta of 2.02. The Pennant Group, Inc. has a twelve month low of $13.24 and a twelve month high of $37.13.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNTG shares. Truist Financial boosted their price objective on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Oppenheimer increased 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.

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.