Peregrine Capital Management LLC Sells 8,610 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Peregrine Capital Management LLC lowered its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,729 shares of the company’s stock after selling 8,610 shares during the quarter. Peregrine Capital Management LLC owned about 0.69% of The Pennant Group worth $6,278,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Quarry LP increased its holdings 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 purchasing an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position 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 buying an additional 2,720 shares in the last quarter. Intech Investment Management LLC bought a new position in The Pennant Group during the third quarter valued at about $232,000. Summit Global Investments acquired a new position in The Pennant Group in the 3rd quarter valued at approximately $254,000. Finally, HighTower Advisors LLC bought a new stake in shares of The Pennant Group in the 3rd quarter worth approximately $282,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNTG. Wells Fargo & Company assumed coverage on 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. Truist Financial dropped their price objective on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Oppenheimer lifted 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 report on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

The Pennant Group Stock Up 2.9 %

PNTG opened at $26.68 on Wednesday. The Pennant Group, Inc. has a twelve month low of $15.81 and a twelve month high of $37.13. The firm has a market cap of $916.46 million, a price-to-earnings ratio of 39.24, a PEG ratio of 2.42 and a beta of 1.91. The firm’s 50-day simple moving average is $27.14 and its 200-day simple moving average is $30.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

About The Pennant Group

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.