The Pennant Group (NASDAQ:PNTG) Stock Price Down 7.6% – Here’s What Happened

The Pennant Group, Inc. (NASDAQ:PNTG) shares traded down 7.6% during mid-day trading on Friday . The company traded as low as $23.38 and last traded at $23.60. 19,458 shares were traded during mid-day trading, a decline of 89% from the average session volume of 185,123 shares. The stock had previously closed at $25.54.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on The Pennant Group in a research note on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target on the stock. Oppenheimer lifted their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Truist Financial lowered their price target 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, January 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Trading Down 10.8 %

The firm has a market cap of $782.10 million, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.92. The business’s 50 day moving average is $26.68 and its 200-day moving average is $30.59. 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

A number of hedge funds have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of 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 acquiring an additional 799 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its holdings in The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company’s stock valued at $66,000 after purchasing an additional 1,500 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position 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 in the last quarter. Summit Investment Advisors Inc. increased its position in shares of The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after purchasing an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of The Pennant Group in the 4th quarter valued at $122,000. 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.