Rice Hall James & Associates LLC Sells 3,605 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Rice Hall James & Associates LLC lessened its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,349 shares of the company’s stock after selling 3,605 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.49% of The Pennant Group worth $4,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP raised its holdings in The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock worth $36,000 after purchasing an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of 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 worth $118,000 after acquiring an additional 2,720 shares during the period. Intech Investment Management LLC bought a new position in shares of The Pennant Group in the 3rd quarter worth approximately $232,000. Summit Global Investments purchased a new position in shares of The Pennant Group in the 3rd quarter valued at approximately $254,000. Finally, HighTower Advisors LLC purchased a new position in shares of The Pennant Group in the 3rd quarter valued at approximately $282,000. Institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PNTG shares. Oppenheimer increased their price objective on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company began coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target for the company. Royal Bank of Canada upped their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their target price on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $25.93 on Tuesday. The Pennant Group, Inc. has a 1-year low of $15.74 and a 1-year high of $37.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $27.30 and a 200-day moving average price of $30.81. The company has a market capitalization of $890.70 million, a PE ratio of 38.13, a PEG ratio of 2.42 and a beta of 1.91.

The Pennant Group 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.