Aquatic Capital Management LLC Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Aquatic Capital Management LLC acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,106 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PNTG. FMR LLC increased its stake in The Pennant Group by 54.5% in the fourth quarter. FMR LLC now owns 3,906,327 shares of the company’s stock valued at $103,596,000 after purchasing an additional 1,377,815 shares during the last quarter. Vanguard Group Inc. grew its position in shares of The Pennant Group by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock valued at $59,977,000 after buying an additional 223,919 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after acquiring an additional 2,117,859 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in The Pennant Group by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 817,857 shares of the company’s stock valued at $21,689,000 after acquiring an additional 50,502 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in The Pennant Group by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 767,628 shares of the company’s stock valued at $20,362,000 after acquiring an additional 85,496 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial reduced their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Friday, March 7th. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.80.

The Pennant Group Stock Performance

NASDAQ PNTG opened at $26.69 on Friday. The firm has a market cap of $926.73 million, a P/E ratio of 39.25, a P/E/G ratio of 2.24 and a beta of 1.73. The Pennant Group, Inc. has a 52-week low of $20.78 and a 52-week high of $37.13. The business’s 50-day moving average price is $24.66 and its 200 day moving average price is $27.65. 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 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.