The Pennant Group (NASDAQ:PNTG) Trading Down 7.6% – Time to Sell?

The Pennant Group, Inc. (NASDAQ:PNTG) shares traded down 7.6% on Friday . The stock traded as low as $23.38 and last traded at $23.60. 19,458 shares were traded during mid-day trading, a decline of 89% from the average session volume of 185,123 shares. The stock had previously closed at $25.54.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Oppenheimer boosted their price objective on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial reduced their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company started coverage on The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

The Pennant Group Trading Down 10.8 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $782.10 million, a price-to-earnings ratio of 33.49, a P/E/G ratio of 2.24 and a beta of 1.92. The business’s 50-day moving average price is $26.68 and its two-hundred day moving average price is $30.59.

Hedge Funds Weigh In On The Pennant Group

A number of hedge funds have recently added to or reduced their stakes in PNTG. Creative Planning grew its holdings in shares of The Pennant Group by 13.1% during the 3rd quarter. Creative Planning now owns 21,662 shares of the company’s stock worth $773,000 after purchasing an additional 2,510 shares in the last quarter. Summit Global Investments acquired a new stake in The Pennant Group during the third quarter worth about $254,000. Premier Fund Managers Ltd acquired a new stake in The Pennant Group during the third quarter worth about $976,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Pennant Group in the 3rd quarter valued at approximately $363,000. Finally, Intech Investment Management LLC bought a new stake in shares of The Pennant Group during the 3rd quarter worth approximately $232,000. Institutional investors own 85.88% of the company’s stock.

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.