Zurcher Kantonalbank Zurich Cantonalbank Increases Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 11.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,214 shares of the company’s stock after purchasing an additional 2,476 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of The Pennant Group worth $864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. De Lisle Partners LLP raised its stake in The Pennant Group by 7.6% in the third quarter. De Lisle Partners LLP now owns 343,340 shares of the company’s stock valued at $12,254,000 after buying an additional 24,321 shares in the last quarter. Freedom Investment Management Inc. purchased a new stake in The Pennant Group during the third quarter worth approximately $490,000. Quantbot Technologies LP lifted its stake in The Pennant Group by 121.6% during the third quarter. Quantbot Technologies LP now owns 15,631 shares of the company’s stock worth $558,000 after purchasing an additional 8,577 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in The Pennant Group by 4.0% in the third quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock valued at $540,000 after purchasing an additional 575 shares in the last quarter. Finally, FMR LLC increased its stake in The Pennant Group by 51.3% in the third quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after purchasing an additional 856,838 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Trading Up 0.3 %

Shares of PNTG stock opened at $29.92 on Friday. The company has a market capitalization of $1.03 billion, a P/E ratio of 44.00, a price-to-earnings-growth ratio of 3.16 and a beta of 1.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $32.77 and its two-hundred day moving average is $29.75. The Pennant Group, Inc. has a twelve month low of $13.24 and a twelve month high of $37.13.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNTG shares. Oppenheimer boosted their price objective on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial boosted their price target on shares of 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 reiterated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada upped 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.

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.