The Pennant Group (NASDAQ:PNTG) Reaches New 52-Week High at $24.25

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high on Tuesday . The company traded as high as $24.25 and last traded at $24.08, with a volume of 36141 shares trading hands. The stock had previously closed at $23.40.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PNTG shares. Royal Bank of Canada raised their price target on The Pennant Group from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Stephens reiterated an “overweight” rating and set a $25.00 target price on shares of The Pennant Group in a research note on Thursday, June 20th. Finally, Truist Financial lifted their target price on The Pennant Group from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, May 15th.

The Pennant Group Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $22.65 and a 200 day moving average price of $19.10. The company has a market capitalization of $731.12 million, a P/E ratio of 45.06, a P/E/G ratio of 2.59 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Monday, May 6th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $156.92 million during the quarter, compared to the consensus estimate of $146.01 million. The Pennant Group had a return on equity of 13.42% and a net margin of 2.86%. On average, equities analysts predict that The Pennant Group, Inc. will post 0.73 EPS for the current fiscal year.

Institutional Trading of The Pennant Group

Several institutional investors have recently added to or reduced their stakes in PNTG. 8 Knots Management LLC bought a new stake in The Pennant Group in the 4th quarter valued at $25,578,000. Boone Capital Management LLC acquired a new position in The Pennant Group in the 4th quarter valued at $4,589,000. Peregrine Capital Management LLC acquired a new position in The Pennant Group in the 1st quarter valued at $6,403,000. Allianz Asset Management GmbH acquired a new position in The Pennant Group in the 4th quarter valued at $2,351,000. Finally, Sei Investments Co. raised its holdings in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock valued at $2,670,000 after acquiring an additional 118,581 shares in the last quarter. 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.