The Pennant Group (NASDAQ:PNTG) Trading Down 5.9% – Here’s Why

The Pennant Group, Inc. (NASDAQ:PNTG) was down 5.9% during mid-day trading on Monday . The company traded as low as $32.76 and last traded at $32.80. Approximately 132,307 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 193,813 shares. The stock had previously closed at $34.85.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNTG. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Truist Financial increased their price objective on The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Oppenheimer increased their price objective 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. Finally, Royal Bank of Canada increased their price objective on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday.

The Pennant Group Trading Up 2.4 %

The firm has a market capitalization of $1.04 billion, a PE ratio of 54.21, a P/E/G ratio of 3.57 and a beta of 2.01. The business has a 50 day moving average price of $33.86 and a 200-day moving average price of $27.45. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. Analysts expect that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its holdings in The Pennant Group by 3,805.6% during the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after buying an additional 1,370 shares during the last quarter. USA Financial Formulas acquired a new stake in The Pennant Group during the 3rd quarter valued at $121,000. Principal Financial Group Inc. acquired a new stake in The Pennant Group during the 1st quarter valued at $197,000. Acadian Asset Management LLC acquired a new stake in The Pennant Group during the 1st quarter valued at $218,000. Finally, Bailard Inc. acquired a new stake in The Pennant Group during the 2nd quarter valued at $253,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.