The Pennant Group (NASDAQ:PNTG) Sees Unusually-High Trading Volume – Still a Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) saw an uptick in trading volume on Tuesday . 153,459 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 200,066 shares.The stock last traded at $31.04 and had previously closed at $30.56.

Analyst Ratings Changes

A number of research firms recently issued reports on PNTG. Royal Bank of Canada raised their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial raised their price objective on shares of 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 target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Stephens reiterated an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th.

The Pennant Group Stock Performance

The business’s fifty day moving average is $33.47 and its two-hundred day moving average is $29.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.08 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 3.18 and a beta of 2.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP boosted its stake in The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company’s stock worth $36,000 after buying an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in The Pennant Group by 460.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after buying an additional 2,720 shares during the period. USA Financial Formulas purchased a new position in The Pennant Group during the third quarter worth $121,000. Intech Investment Management LLC purchased a new position in The Pennant Group during the third quarter worth $232,000. Finally, Summit Global Investments purchased a new position in The Pennant Group during the third quarter worth $254,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.