The Pennant Group (NASDAQ:PNTG) Sees Large Volume Increase – Still a Buy?

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) saw unusually-strong trading volume on Monday . Approximately 194,304 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 120,105 shares.The stock last traded at $25.86 and had previously closed at $26.54.

Analyst Ratings Changes

PNTG has been the subject of several analyst reports. Royal Bank of Canada raised their price target on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Truist Financial dropped their target price on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday. Oppenheimer raised their price target on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company started coverage on shares of The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Price Performance

The stock has a market capitalization of $912.63 million, a PE ratio of 39.07, a PEG ratio of 2.99 and a beta of 1.93. The firm’s fifty day moving average price is $29.83 and its two-hundred day moving average price is $30.58. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58.

Institutional Trading of The Pennant Group

Several large investors have recently modified their holdings of PNTG. Quarry LP increased its holdings in The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of The Pennant Group by 460.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after purchasing an additional 2,720 shares in the last quarter. USA Financial Formulas bought a new position in The Pennant Group in the 3rd quarter worth $121,000. Intech Investment Management LLC purchased a new position in The Pennant Group during the third quarter valued at $232,000. Finally, Summit Global Investments bought a new stake in The Pennant Group during the third quarter valued at about $254,000. Institutional investors own 85.88% of the company’s stock.

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.