Short Interest in The Pennant Group, Inc. (NASDAQ:PNTG) Grows By 22.9%

The Pennant Group, Inc. (NASDAQ:PNTG) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 430,300 shares, an increase of 22.9% from the May 31st total of 350,100 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 163,500 shares, the short-interest ratio is presently 2.6 days.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds have recently added to or reduced their stakes in PNTG. Allianz Asset Management GmbH purchased a new position in shares of The Pennant Group during the fourth quarter valued at approximately $2,351,000. Keeley Teton Advisors LLC bought a new position in The Pennant Group in the 4th quarter valued at $603,000. Wasatch Advisors LP increased its stake in The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock worth $20,403,000 after purchasing an additional 46,484 shares during the period. 8 Knots Management LLC purchased a new stake in The Pennant Group in the fourth quarter worth $25,578,000. Finally, Boone Capital Management LLC bought a new stake in shares of The Pennant Group during the fourth quarter worth $4,589,000. 85.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens reissued an “overweight” rating and set a $25.00 price target on shares of The Pennant Group in a report on Thursday, June 20th. Truist Financial lifted their target price on The Pennant Group from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada upped their price target on The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th.

The Pennant Group Stock Up 0.9 %

NASDAQ PNTG opened at $23.40 on Tuesday. The Pennant Group has a one year low of $10.31 and a one year high of $24.09. The company has a market capitalization of $703.17 million, a P/E ratio of 43.33, a P/E/G ratio of 2.45 and a beta of 2.01. The stock has a 50 day moving average price of $22.47 and a 200-day moving average price of $18.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.16.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Monday, May 6th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The Pennant Group had a return on equity of 13.42% and a net margin of 2.86%. The firm had revenue of $156.92 million during the quarter, compared to analysts’ expectations of $146.01 million. As a group, equities analysts predict that The Pennant Group will post 0.73 EPS for the current fiscal year.

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.