Freedom Investment Management Inc. Buys New Shares in The Pennant Group, Inc. (NASDAQ:PNTG)

Freedom Investment Management Inc. purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,737 shares of the company’s stock, valued at approximately $490,000.

Several other institutional investors also recently modified their holdings of the stock. Creative Planning boosted its stake in shares of The Pennant Group by 2.0% during the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after acquiring an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of The Pennant Group by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock valued at $260,000 after purchasing an additional 471 shares during the period. D.A. Davidson & CO. increased its stake in The Pennant Group by 4.0% in the 3rd quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock worth $540,000 after purchasing an additional 575 shares in the last quarter. Principal Financial Group Inc. raised its holdings in The Pennant Group by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after buying an additional 991 shares during the period. Finally, Trust Point Inc. lifted its stake in The Pennant Group by 9.7% during the third quarter. Trust Point Inc. now owns 24,926 shares of the company’s stock valued at $890,000 after buying an additional 2,199 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Performance

Shares of PNTG opened at $31.18 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of 45.85, a PEG ratio of 3.21 and a beta of 2.02. 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 company’s 50 day moving average price is $33.17 and its 200 day moving average price is $29.53. The Pennant Group, Inc. has a 52 week low of $13.24 and a 52 week high of $37.13.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PNTG shares. Truist Financial lifted their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Oppenheimer boosted 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. Royal Bank of Canada raised their target price on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Stephens reissued 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 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.