The Pennant Group (NASDAQ:PNTG) Stock Price Up 4.5% – Here’s What Happened

The Pennant Group, Inc. (NASDAQ:PNTG) rose 4.5% during mid-day trading on Tuesday . The company traded as high as $31.35 and last traded at $31.35. Approximately 58,978 shares were traded during trading, a decline of 70% from the average daily volume of 199,725 shares. The stock had previously closed at $30.01.

Analyst Upgrades and Downgrades

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

The Pennant Group Price Performance

The firm has a 50 day moving average price of $32.57 and a 200 day moving average price of $29.94. The stock has a market capitalization of $1.04 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 3.07 and a beta of 1.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PNTG. FMR LLC grew its stake 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 acquiring an additional 856,838 shares during the period. Atom Investors LP bought a new position in shares of The Pennant Group in the third quarter worth approximately $3,981,000. Federated Hermes Inc. increased its stake in shares of The Pennant Group by 600.0% in 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. Renaissance Technologies LLC raised its position in shares of The Pennant Group by 17.1% during 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. Finally, Barclays PLC raised its position in shares of The Pennant Group by 375.0% during the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock valued at $1,753,000 after purchasing an additional 38,763 shares during the period. Hedge funds and other 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.