The Pennant Group (NASDAQ:PNTG) Trading Down 8% – Should You Sell?

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price traded down 8% on Thursday . The stock traded as low as $28.80 and last traded at $30.48. 98,922 shares were traded during mid-day trading, a decline of 50% from the average session volume of 196,096 shares. The stock had previously closed at $33.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PNTG shares. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Truist Financial increased their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Oppenheimer boosted their price target on The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, 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.

The Pennant Group Stock Performance

The stock has a 50 day moving average of $33.82 and a two-hundred day moving average of $28.34. The stock has a market capitalization of $942.64 million, a PE ratio of 48.29, a P/E/G ratio of 3.32 and a beta of 2.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. Research analysts expect that The Pennant Group, Inc. will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNTG. Covestor Ltd raised its holdings in The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after purchasing an additional 1,370 shares during the last quarter. USA Financial Formulas purchased a new position in The Pennant Group during the 3rd quarter valued at about $121,000. Summit Global Investments acquired a new stake in shares of The Pennant Group in the third quarter valued at approximately $254,000. Kings Path Partners LLC purchased a new position in The Pennant Group during the third quarter worth $277,000. Finally, Bailard Inc. acquired a new position in shares of The Pennant Group in the second quarter worth $253,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

About The Pennant Group

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.