The Pennant Group (NASDAQ:PNTG) Shares Down 4.5%

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price dropped 4.5% during trading on Wednesday . The stock traded as low as $30.48 and last traded at $30.72. Approximately 1,021 shares traded hands during trading, a decline of 99% from the average daily volume of 111,808 shares. The stock had previously closed at $32.17.

PNTG has been the topic of several recent analyst reports. Truist dropped their target price on shares of The Pennant Group from $44.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, August 11th. Truist Securities dropped their target price on shares of The Pennant Group from $44.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, August 11th. Royal Bank of Canada lowered their price target on shares of The Pennant Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, August 11th. Finally, Zacks Investment Research cut shares of The Pennant Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.80.

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. The company has a market cap of $859.65 million, a P/E ratio of 80.43 and a beta of 2.60. The business’s fifty day moving average is $32.61 and its 200 day moving average is $38.71.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Monday, August 9th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The Pennant Group had a net margin of 2.85% and a return on equity of 17.47%. As a group, research analysts expect that The Pennant Group, Inc. will post 0.66 EPS for the current fiscal year.

In other news, CEO Daniel H. Walker sold 20,000 shares of the business’s stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $42.03, for a total transaction of $840,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,193,691 shares in the company, valued at approximately $50,170,832.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel H. Walker sold 5,100 shares of the business’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $44.03, for a total transaction of $224,553.00. Following the transaction, the chief executive officer now owns 1,193,691 shares of the company’s stock, valued at $52,558,214.73. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in The Pennant Group by 1,696.7% in the first quarter. Captrust Financial Advisors now owns 539 shares of the company’s stock worth $25,000 after acquiring an additional 509 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in The Pennant Group in the first quarter worth $28,000. Fifth Third Bancorp grew its position in The Pennant Group by 32.5% in the first quarter. Fifth Third Bancorp now owns 1,235 shares of the company’s stock worth $57,000 after acquiring an additional 303 shares in the last quarter. Sageworth Trust Co purchased a new position in The Pennant Group in the first quarter worth $69,000. Finally, SG Americas Securities LLC purchased a new position in The Pennant Group in the first quarter worth $158,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

The Pennant Group Company Profile (NASDAQ:PNTG)

The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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.

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