The Pennant Group (NASDAQ:PNTG) Trading Down 5.9% – Time to Sell?

The Pennant Group, Inc. (NASDAQ:PNTG) shares dropped 5.9% 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PNTG. Truist Financial increased their price target on 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 reaffirmed an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Oppenheimer lifted their target price on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th.

The Pennant Group Stock Performance

The stock has a market cap of $987.01 million, a price-to-earnings ratio of 64.54, a price-to-earnings-growth ratio of 3.57 and a beta of 2.01. The company’s 50-day simple moving average is $33.67 and its 200-day simple moving average is $27.23. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48.

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

Institutional Trading of The Pennant Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its position in shares of The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after acquiring an additional 1,370 shares in the last quarter. USA Financial Formulas acquired a new position in The Pennant Group in the 3rd quarter worth approximately $121,000. Principal Financial Group Inc. purchased a new position in The Pennant Group during the 1st quarter worth approximately $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. purchased a new stake in shares of The Pennant Group in the second quarter valued at $253,000. 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.