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

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price was down 7.6% during trading on Friday . The company traded as low as $23.38 and last traded at $23.60. Approximately 19,458 shares changed hands during trading, a decline of 89% from the average daily volume of 185,123 shares. The stock had previously closed at $25.54.

Analyst Ratings Changes

PNTG has been the subject of a number of recent research reports. Wells Fargo & Company began coverage on shares of The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective for the company. Truist Financial cut their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, Oppenheimer raised their price objective on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

The Pennant Group Price Performance

The firm has a market capitalization of $782.10 million, a P/E ratio of 33.49, a PEG ratio of 2.24 and a beta of 1.91. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $26.59 and its 200-day moving average is $30.54.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently modified their holdings of PNTG. Franklin Resources Inc. boosted its stake in The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock valued at $638,000 after buying an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after purchasing an additional 83,664 shares in the last quarter. FMR LLC grew its holdings in shares of The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after purchasing an additional 856,838 shares during the last quarter. Barclays PLC increased its position in The Pennant Group by 375.0% during the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock worth $1,753,000 after purchasing an additional 38,763 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in The Pennant Group in the 3rd quarter valued at approximately $685,000. Institutional investors 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.