Kings Path Partners LLC Buys 11,855 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Kings Path Partners LLC lifted its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 152.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,610 shares of the company’s stock after acquiring an additional 11,855 shares during the quarter. Kings Path Partners LLC’s holdings in The Pennant Group were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of The Pennant Group by 26.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock valued at $638,000 after buying an additional 3,859 shares in the last quarter. FMR LLC lifted 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 valued at $90,268,000 after acquiring an additional 856,838 shares in the last quarter. Barclays PLC boosted its stake in shares of The Pennant Group by 375.0% in 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 period. Point72 Asset Management L.P. purchased a new stake in shares of The Pennant Group during the third quarter worth about $685,000. Finally, Geode Capital Management LLC raised its stake in The Pennant Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock valued at $24,357,000 after purchasing an additional 2,963 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNTG has been the subject of several recent analyst reports. Oppenheimer upped their price target on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Royal Bank of Canada boosted 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. Truist Financial cut their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday. Finally, Wells Fargo & Company started coverage on The Pennant Group in a report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

The Pennant Group Trading Down 2.3 %

Shares of The Pennant Group stock traded down $0.62 on Monday, reaching $25.92. The company had a trading volume of 99,727 shares, compared to its average volume of 116,520. The firm has a market cap of $890.30 million, a price-to-earnings ratio of 38.12, a P/E/G ratio of 2.99 and a beta of 1.93. The firm’s 50-day moving average price is $30.28 and its two-hundred day moving average price is $30.56. The Pennant Group, Inc. has a 1 year low of $14.77 and a 1 year high of $37.13. 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 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.