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

The Pennant Group, Inc. (NASDAQ:PNTG) saw unusually-high trading volume on Thursday . Approximately 772,640 shares were traded during mid-day trading, an increase of 323% from the previous session’s volume of 182,710 shares.The stock last traded at $34.21 and had previously closed at $32.47.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PNTG. Oppenheimer boosted their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Truist Financial boosted their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Stephens boosted their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th.

The Pennant Group Trading Down 2.5 %

The stock has a market capitalization of $996.93 million, a P/E ratio of 61.11, a price-to-earnings-growth ratio of 3.53 and a beta of 2.01. 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 stock’s fifty day moving average price is $32.70 and its two-hundred day moving average price is $26.13.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The company had revenue of $168.75 million during the quarter, compared to analyst estimates of $156.71 million. Equities research analysts forecast that The Pennant Group, Inc. will post 0.75 EPS for the current year.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Covestor Ltd raised 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. Principal Financial Group Inc. bought a new stake in The Pennant Group during the 1st quarter valued at $197,000. Acadian Asset Management LLC bought a new stake in The Pennant Group during the 1st quarter valued at $218,000. Bailard Inc. bought a new stake in The Pennant Group during the 2nd quarter valued at $253,000. Finally, The Manufacturers Life Insurance Company raised its holdings 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 buying an additional 471 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

About The Pennant Group

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.