PDT Partners LLC Takes $588,000 Position in The Pennant Group, Inc. (NASDAQ:PNTG)

PDT Partners LLC purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG) during the 3rd quarter, Holdings Channel reports. The fund purchased 16,474 shares of the company’s stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Pennant Group by 292.5% during the second 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 period. Bailard Inc. purchased a new position in The Pennant Group during the 2nd quarter worth $253,000. Renaissance Technologies LLC grew its position in shares of The Pennant Group by 17.1% during the 2nd quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock worth $6,199,000 after buying an additional 39,000 shares in the last quarter. Navellier & Associates Inc. purchased a new position in shares of The Pennant Group during the third quarter valued at $874,000. Finally, Federated Hermes Inc. raised its holdings in shares of The Pennant Group by 600.0% in the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock valued at $1,253,000 after acquiring an additional 46,324 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial increased their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd.

The Pennant Group Price Performance

Shares of PNTG opened at $31.56 on Tuesday. The company has a 50 day moving average of $33.17 and a two-hundred day moving average of $29.62. 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 Pennant Group, Inc. has a twelve month low of $13.24 and a twelve month high of $37.13. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 46.41, a price-to-earnings-growth ratio of 3.18 and a beta of 2.02.

About The Pennant Group

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.