The Pennant Group (NASDAQ:PNTG) Trading Down 5.9% – Here’s Why

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price fell 5.9% during trading on Monday . The company traded as low as $32.76 and last traded at $32.80. 132,307 shares traded hands during trading, a decline of 32% from the average session volume of 193,813 shares. The stock had previously closed at $34.85.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PNTG. Stephens reiterated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Truist Financial raised their price objective on The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Oppenheimer raised their price objective on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada raised their price objective on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday.

The Pennant Group Stock Up 2.4 %

The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 54.21, a PEG ratio of 3.57 and a beta of 2.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $33.86 and a 200-day moving average price of $27.45.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. The firm had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. As a group, sell-side analysts forecast that The Pennant Group, Inc. will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Quadrature Capital Ltd purchased a new position in The Pennant Group in the fourth quarter valued at about $288,000. Principal Financial Group Inc. purchased a new position in The Pennant Group in the first quarter valued at about $197,000. Mirae Asset Global Investments Co. Ltd. raised its position in The Pennant Group by 101.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock valued at $450,000 after purchasing an additional 11,536 shares during the period. ClariVest Asset Management LLC raised its position in The Pennant Group by 14.9% in the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock valued at $1,724,000 after purchasing an additional 11,359 shares during the period. Finally, Sei Investments Co. raised its position in The Pennant Group by 679.7% in the first quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock valued at $2,670,000 after purchasing an additional 118,581 shares during the period. Institutional investors and hedge funds 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.