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

Freedom Investment Management Inc. acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 13,737 shares of the company’s stock, valued at approximately $490,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new position in shares of The Pennant Group during the 3rd quarter worth $121,000. Intech Investment Management LLC bought a new stake in The Pennant Group in the third quarter worth $232,000. Summit Global Investments acquired a new position in The Pennant Group during the third quarter worth $254,000. Kings Path Partners LLC bought a new position in The Pennant Group during the third quarter valued at about $277,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of The Pennant Group in the third quarter worth about $363,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial increased their price objective on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Oppenheimer increased 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. Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada raised their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG opened at $31.18 on Friday. The Pennant Group, Inc. has a 12 month low of $13.24 and a 12 month high of $37.13. The company has a market cap of $1.07 billion, a P/E ratio of 45.85, a P/E/G ratio of 3.21 and a beta of 2.02. The business’s 50 day moving average is $33.17 and its two-hundred day moving average is $29.53. 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 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.