Oppenheimer Asset Management Inc. Cuts Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Oppenheimer Asset Management Inc. lessened its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 17,033 shares of the company’s stock after selling 453 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Pennant Group were worth $608,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after acquiring an additional 1,370 shares during the last quarter. USA Financial Formulas acquired a new position in The Pennant Group in the third quarter valued at approximately $121,000. Acadian Asset Management LLC purchased a new stake in The Pennant Group in the first quarter valued at $218,000. Bailard Inc. acquired a new position in The Pennant Group during the second quarter worth approximately $253,000. Finally, Summit Global Investments purchased a new position in The Pennant Group during the 3rd quarter worth $254,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNTG has been the subject of a number of analyst reports. Oppenheimer upped 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 upped their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Royal Bank of Canada lifted their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Wednesday, October 9th.

The Pennant Group Stock Performance

The Pennant Group stock opened at $31.81 on Wednesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 46.78, a price-to-earnings-growth ratio of 3.22 and a beta of 2.02. The stock’s 50 day moving average price is $33.74 and its 200 day moving average price is $29.13. The Pennant Group, Inc. has a one year low of $12.96 and a one year high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

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.