The Pennant Group, Inc. (NASDAQ:PNTG) Stock Position Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 46.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,035 shares of the company’s stock after buying an additional 34,696 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.32% of The Pennant Group worth $2,892,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PNTG. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of The Pennant Group during the third quarter worth $363,000. Intech Investment Management LLC purchased a new stake in shares of The Pennant Group during the 3rd quarter worth about $232,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of The Pennant Group by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 242,743 shares of the company’s stock valued at $8,666,000 after buying an additional 2,982 shares during the last quarter. Algert Global LLC lifted its holdings in shares of The Pennant Group by 18.1% during the 3rd quarter. Algert Global LLC now owns 88,502 shares of the company’s stock valued at $3,160,000 after buying an additional 13,560 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of The Pennant Group by 48.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,433 shares of the company’s stock valued at $979,000 after buying an additional 8,984 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. 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. Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of The Pennant Group in a report on Tuesday, March 11th. Finally, Truist Financial cut their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Two investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

The Pennant Group Stock Up 2.2 %

The Pennant Group stock opened at $24.83 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group, Inc. has a fifty-two week low of $19.28 and a fifty-two week high of $37.13. The firm has a fifty day moving average price of $25.55 and a two-hundred day moving average price of $29.38. The firm has a market cap of $854.90 million, a price-to-earnings ratio of 36.52, a P/E/G ratio of 2.24 and a beta of 2.06.

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.