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

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) saw unusually-strong trading volume on Tuesday . Approximately 153,459 shares changed hands during trading, a decline of 23% from the previous session’s volume of 200,066 shares.The stock last traded at $31.04 and had previously closed at $30.56.

Analyst Ratings Changes

A number of equities research analysts recently commented on PNTG shares. Oppenheimer upped their price target 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 restated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial upped their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th.

The Pennant Group Stock Up 2.5 %

The company’s 50-day moving average is $33.47 and its 200 day moving average is $29.38. The company has a market capitalization of $1.08 billion, a PE ratio of 44.94, a P/E/G ratio of 3.18 and a beta of 2.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

Institutional Trading of The Pennant Group

Several institutional investors have recently bought and sold shares of the company. Creative Planning grew its position in The Pennant Group by 2.0% during the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock valued at $444,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in The Pennant Group by 4.4% during 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 last quarter. D.A. Davidson & CO. grew its position in The Pennant Group by 4.0% during the 3rd quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock valued at $540,000 after purchasing an additional 575 shares during the last quarter. Quarry LP boosted its holdings in shares of The Pennant Group by 371.6% during the 3rd 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 last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of The Pennant Group by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock valued at $256,000 after acquiring an additional 991 shares during the last quarter. 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.