The Pennant Group (NASDAQ:PNTG) Sees Large Volume Increase

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw an uptick in trading volume on Thursday . 248,272 shares were traded during mid-day trading, an increase of 46% from the previous session’s volume of 169,576 shares.The stock last traded at $32.97 and had previously closed at $32.81.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PNTG shares. Stephens raised their target price on The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Oppenheimer increased their price target on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Truist Financial lifted their price objective on The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, August 15th.

The Pennant Group Price Performance

The company’s 50 day moving average price is $29.41 and its 200 day moving average price is $23.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $956.66 million, a price-to-earnings ratio of 58.96, a P/E/G ratio of 3.58 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The firm had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. On average, equities research analysts predict that The Pennant Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

A number of institutional investors and hedge funds have recently made changes to their positions in PNTG. 8 Knots Management LLC acquired a new stake in The Pennant Group in the fourth quarter worth $25,578,000. Boone Capital Management LLC bought a new position in The Pennant Group in the fourth quarter valued at approximately $4,589,000. Peregrine Capital Management LLC acquired a new stake in shares of The Pennant Group during the first quarter worth $6,403,000. Allianz Asset Management GmbH bought a new stake in The Pennant Group in the 4th quarter valued at $2,351,000. Finally, Sei Investments Co. boosted its stake in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after purchasing an additional 118,581 shares during the period. Institutional investors own 85.88% of the company’s stock.

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.