Versor Investments LP Acquires New Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Versor Investments LP bought a new position in The Pennant Group, Inc. (NASDAQ:PNTG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,300 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP increased its position in shares of The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of The Pennant Group by 460.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after purchasing an additional 2,720 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of The Pennant Group during the third quarter valued at $232,000. Summit Global Investments purchased a new stake in shares of The Pennant Group during the third quarter valued at $254,000. Finally, HighTower Advisors LLC bought a new stake in The Pennant Group in the 3rd quarter worth about $282,000. Institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PNTG has been the topic of several research analyst reports. Wells Fargo & Company assumed 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 target price on the stock. Truist Financial lowered their price objective on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Oppenheimer lifted their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $22.53 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $773.86 million, a PE ratio of 33.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.91. The firm’s 50 day moving average price is $26.51 and its 200-day moving average price is $30.48. The Pennant Group, Inc. has a twelve month low of $18.12 and a twelve month high of $37.13.

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.