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

The Pennant Group, Inc. (NASDAQ:PNTG) saw unusually-strong trading volume on Monday . Approximately 194,304 shares traded hands 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

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

The Pennant Group Trading Up 0.9 %

The firm has a market cap of $912.63 million, a P/E ratio of 39.07, a P/E/G ratio of 2.99 and a beta of 1.93. The stock has a 50 day simple moving average of $29.83 and a 200-day simple moving average of $30.58. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Institutional Trading of The Pennant Group

A number of large investors have recently made changes to their positions in PNTG. Quarry LP raised its stake in shares of The Pennant Group by 371.6% in the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in 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 during the period. USA Financial Formulas bought a new stake in The Pennant Group in the third quarter worth about $121,000. Intech Investment Management LLC purchased a new position in shares of The Pennant Group during the third quarter valued at approximately $232,000. Finally, Summit Global Investments purchased a new position in shares of The Pennant Group during the third quarter valued at approximately $254,000. 85.88% of the stock is currently owned by institutional investors.

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.