The Pennant Group (NASDAQ:PNTG) Sees Unusually-High Trading Volume – What’s Next?

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw an uptick in trading volume on Monday . 194,304 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 120,105 shares.The stock last traded at $25.86 and had previously closed at $26.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PNTG shares. Oppenheimer increased their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. 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, October 23rd. Wells Fargo & Company began coverage on The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price on the stock. Truist Financial decreased their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday. Finally, Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

The Pennant Group Trading Down 4.1 %

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $30.28 and a 200-day moving average price of $30.56. The firm has a market capitalization of $874.50 million, a PE ratio of 37.44, a P/E/G ratio of 2.99 and a beta of 1.93.

Institutional Trading of The Pennant Group

Several hedge funds and other institutional investors have recently made changes to their positions in PNTG. FMR LLC increased its holdings in The Pennant Group by 51.3% in the third quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after buying an additional 856,838 shares in the last quarter. Atom Investors LP purchased a new position in The Pennant Group in the 3rd quarter valued at approximately $3,981,000. JPMorgan Chase & Co. raised its holdings in The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock worth $7,351,000 after purchasing an additional 83,664 shares during the last quarter. Federated Hermes Inc. boosted its position in The Pennant Group by 600.0% during the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock worth $1,253,000 after purchasing an additional 46,324 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in The Pennant Group by 17.1% in the second 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 last quarter. 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.