The Pennant Group (NASDAQ:PNTG) Hits New 52-Week High at $31.38

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.38 and last traded at $30.87, with a volume of 7934 shares changing hands. The stock had previously closed at $30.71.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price objective on The Pennant Group from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Oppenheimer boosted their price target on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of The Pennant Group from $21.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Stephens increased their target price on The Pennant Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

The Pennant Group Trading Up 0.7 %

The company has a market cap of $929.02 million, a price-to-earnings ratio of 56.87, a PEG ratio of 3.03 and a beta of 2.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $21.77.

Institutional Investors Weigh In On The Pennant Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in shares of The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after purchasing an additional 991 shares during the last quarter. Covestor Ltd grew its stake in The Pennant Group by 3,805.6% during the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after buying an additional 1,370 shares during the last quarter. AJOVista LLC purchased a new position in The Pennant Group during the 4th quarter worth approximately $35,000. Oppenheimer Asset Management Inc. increased its position in The Pennant Group by 17.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,486 shares of the company’s stock worth $406,000 after buying an additional 2,549 shares during the period. Finally, Rhumbline Advisers lifted its stake in The Pennant Group by 8.9% in the second quarter. Rhumbline Advisers now owns 44,239 shares of the company’s stock valued at $1,026,000 after buying an additional 3,611 shares during the last quarter. 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.