Proficio Capital Partners LLC Buys Shares of 18,352 The Pennant Group, Inc. (NASDAQ:PNTG)

Proficio Capital Partners LLC purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,352 shares of the company’s stock, valued at approximately $487,000.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock worth $36,000 after acquiring an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of The Pennant Group by 460.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after purchasing an additional 2,720 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of The Pennant Group in the 3rd quarter worth approximately $232,000. HighTower Advisors LLC bought a new position in shares of The Pennant Group during the third quarter valued at approximately $282,000. Finally, Versor Investments LP purchased a new position in The Pennant Group during the fourth quarter valued at approximately $300,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PNTG shares. Truist Financial dropped their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company began coverage on The Pennant Group in a research report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of The Pennant Group in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.80.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $24.29 on Tuesday. The Pennant Group, Inc. has a 12-month low of $19.28 and a 12-month high of $37.13. The business’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $29.43. 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 company has a market cap of $836.30 million, a PE ratio of 35.72, a PEG ratio of 2.24 and a beta of 2.06.

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.