Summit Global Investments Acquires 4,528 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Summit Global Investments boosted its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 63.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,647 shares of the company’s stock after purchasing an additional 4,528 shares during the period. Summit Global Investments’ holdings in The Pennant Group were worth $309,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of 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 buying an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in The Pennant Group by 460.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after acquiring an additional 2,720 shares in the last quarter. Intech Investment Management LLC acquired a new position in The Pennant Group during the third quarter worth $232,000. Arizona State Retirement System lifted its holdings in shares of The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock valued at $259,000 after acquiring an additional 1,121 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of The Pennant Group in the 3rd quarter valued at $282,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Up 3.8 %

NASDAQ:PNTG opened at $24.29 on Tuesday. The company has a market cap of $836.30 million, a price-to-earnings ratio of 35.72, a P/E/G ratio of 2.24 and a beta of 2.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average price is $25.59 and its two-hundred day moving average price is $29.43. The Pennant Group, Inc. has a 52-week low of $19.28 and a 52-week high of $37.13.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PNTG shares. Truist Financial cut their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Friday, March 7th. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price for the company. Finally, Stephens restated an “overweight” rating and set a $38.00 price target on shares of The Pennant Group in a research report on Tuesday, March 11th. Two 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $34.80.

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.