Algert Global LLC Buys 13,560 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Algert Global LLC raised its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 18.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,502 shares of the company’s stock after acquiring an additional 13,560 shares during the quarter. Algert Global LLC owned approximately 0.26% of The Pennant Group worth $3,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas bought a new position in The Pennant Group during the 3rd quarter valued at about $121,000. Intech Investment Management LLC acquired a new stake in shares of The Pennant Group during the third quarter worth approximately $232,000. Summit Global Investments bought a new position in shares of The Pennant Group in the third quarter valued at approximately $254,000. Kings Path Partners LLC acquired a new position in shares of The Pennant Group in the 3rd quarter worth approximately $277,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Pennant Group during the 3rd quarter worth approximately $363,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of PNTG stock opened at $30.56 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 Pennant Group, Inc. has a 12 month low of $13.24 and a 12 month high of $37.13. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 3.18 and a beta of 2.02. The stock has a 50-day moving average price of $33.47 and a 200 day moving average price of $29.38.

Analyst Ratings Changes

PNTG has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Oppenheimer lifted their price target on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Truist Financial increased their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th.

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.