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

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) saw unusually-high trading volume on Thursday . Approximately 772,640 shares were traded during trading, an increase of 323% from the previous session’s volume of 182,710 shares.The stock last traded at $34.21 and had previously closed at $32.47.

Wall Street Analyst Weigh In

PNTG has been the topic of several recent analyst reports. Oppenheimer lifted their target price on The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Truist Financial lifted their target price on The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Stephens lifted their price target 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 Stock Up 5.3 %

The business has a 50-day simple moving average of $32.53 and a two-hundred day simple moving average of $25.98. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 63.35, a PEG ratio of 3.53 and a beta of 2.01. 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $156.71 million. As a group, equities analysts forecast that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of The Pennant Group

A number of institutional investors and hedge funds have recently made changes to their positions in PNTG. Creative Planning lifted its position in shares of The Pennant Group by 2.0% during the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of The Pennant Group by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock valued at $260,000 after purchasing an additional 471 shares during the period. Alpha DNA Investment Management LLC bought a new stake in shares of The Pennant Group in the 2nd quarter valued at approximately $481,000. First Eagle Investment Management LLC grew its stake in shares of The Pennant Group by 2.1% in 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 period. Finally, Renaissance Technologies LLC grew its stake in shares of The Pennant Group by 17.1% in the 2nd quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after purchasing an additional 39,000 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

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.