The Pennant Group (NASDAQ:PNTG) Sees Large Volume Increase

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw strong trading volume on Thursday . 248,272 shares were traded during mid-day trading, an increase of 46% from the previous session’s volume of 169,576 shares.The stock last traded at $32.97 and had previously closed at $32.81.

Wall Street Analyst Weigh In

PNTG has been the subject of a number of recent research reports. Oppenheimer upped their price target on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Stephens boosted their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Truist Financial raised their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, August 15th.

The Pennant Group Stock Performance

The stock has a market capitalization of $956.66 million, a P/E ratio of 58.96, a P/E/G ratio of 3.58 and a beta of 2.01. The stock has a 50 day simple moving average of $29.41 and a two-hundred day simple moving average of $23.86. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. The company had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. On average, equities analysts forecast that The Pennant Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

Several hedge funds have recently bought and sold shares of the company. 8 Knots Management LLC increased its position in The Pennant Group by 34.0% during the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after buying an additional 625,061 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of The Pennant Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock worth $36,505,000 after acquiring an additional 77,052 shares during the last quarter. Wasatch Advisors LP raised its stake in The Pennant Group by 3.3% in the 4th quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after acquiring an additional 46,484 shares during the period. Crewe Advisors LLC lifted its holdings in The Pennant Group by 0.7% during the 4th quarter. Crewe Advisors LLC now owns 1,108,104 shares of the company’s stock valued at $15,425,000 after purchasing an additional 7,797 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in The Pennant Group by 2.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock valued at $9,085,000 after purchasing an additional 8,000 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.