Trust Point Inc. Trims Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Trust Point Inc. reduced its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,066 shares of the company’s stock after selling 11,860 shares during the period. Trust Point Inc.’s holdings in The Pennant Group were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PNTG. FMR LLC boosted its position in shares of The Pennant Group by 51.3% in the third quarter. FMR LLC now owns 2,528,512 shares of the company’s stock worth $90,268,000 after purchasing an additional 856,838 shares during the period. Atom Investors LP bought a new position in shares of The Pennant Group during the third quarter worth $3,981,000. JPMorgan Chase & Co. boosted its position in shares of The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock worth $7,351,000 after acquiring an additional 83,664 shares during the last quarter. Barclays PLC boosted its position in shares of The Pennant Group by 375.0% during the third quarter. Barclays PLC now owns 49,101 shares of the company’s stock worth $1,753,000 after acquiring an additional 38,763 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in shares of The Pennant Group during the third quarter worth $1,069,000. 85.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PNTG. Truist Financial decreased their price target on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company began coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target on the stock. Royal Bank of Canada upped their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Oppenheimer increased their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Trading Up 1.6 %

Shares of PNTG opened at $28.35 on Thursday. The Pennant Group, Inc. has a twelve month low of $14.84 and a twelve month high of $37.13. The company has a market cap of $973.82 million, a P/E ratio of 41.69, a P/E/G ratio of 2.35 and a beta of 1.92. 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’s fifty day simple moving average is $27.97 and its 200-day simple moving average is $30.96.

The Pennant Group Company 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.