Harvest Fund Management Co. Ltd Grows Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Harvest Fund Management Co. Ltd increased its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 48.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,433 shares of the company’s stock after acquiring an additional 8,984 shares during the quarter. Harvest Fund Management Co. Ltd owned about 0.08% of The Pennant Group worth $979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in The Pennant Group during the 3rd quarter valued at approximately $121,000. Intech Investment Management LLC purchased a new stake in The Pennant Group during the 3rd quarter valued at approximately $232,000. Summit Global Investments purchased a new stake in The Pennant Group during the 3rd quarter valued at approximately $254,000. Kings Path Partners LLC purchased a new stake in The Pennant Group during the 3rd quarter valued at approximately $277,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in The Pennant Group during the 3rd quarter valued at approximately $363,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

The Pennant Group Trading Down 1.9 %

PNTG stock opened at $30.56 on Tuesday. The firm has a fifty day moving average price of $33.47 and a 200 day moving average price of $29.38. The Pennant Group, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $1.05 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 3.18 and a beta of 2.02.

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.