Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 10,181 The Pennant Group, Inc. (NASDAQ:PNTG)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the third quarter, HoldingsChannel.com reports. The firm acquired 10,181 shares of the company’s stock, valued at approximately $363,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNTG. USA Financial Formulas acquired a new stake in shares of The Pennant Group in the 3rd quarter worth $121,000. Bailard Inc. acquired a new position in shares of The Pennant Group during the 2nd quarter valued at about $253,000. Summit Global Investments purchased a new stake in shares of The Pennant Group in the third quarter valued at about $254,000. Principal Financial Group Inc. increased its position in The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after purchasing an additional 991 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in The Pennant Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after purchasing an additional 471 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of PNTG opened at $31.18 on Friday. The firm has a 50-day simple moving average of $33.17 and a two-hundred day simple moving average of $29.58. The stock has a market cap of $1.07 billion, a PE ratio of 45.85, a P/E/G ratio of 3.21 and a beta of 2.02. The Pennant Group, Inc. has a 1-year low of $13.24 and a 1-year high of $37.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Analysts Set New Price Targets

Several equities analysts have weighed in on PNTG shares. Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Truist Financial upped 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. Royal Bank of Canada increased their price objective on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Oppenheimer lifted their target price on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

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.