The Pennant Group (NASDAQ:PNTG) Trading Up 4.5% – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

The Pennant Group Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day moving average of $32.57 and a two-hundred day moving average of $29.94. The company has a market cap of $1.04 billion, a P/E ratio of 45.60, a price-to-earnings-growth ratio of 3.07 and a beta of 1.95.

Institutional Trading of The Pennant Group

A number of institutional investors and hedge funds have recently bought and sold shares of PNTG. Quarry LP grew its holdings in shares of The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in The Pennant Group by 460.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after acquiring an additional 2,720 shares in the last quarter. USA Financial Formulas purchased a new stake in The Pennant Group during the 3rd quarter valued at $121,000. Intech Investment Management LLC bought a new stake in shares of The Pennant Group in the 3rd quarter worth $232,000. Finally, Bailard Inc. purchased a new position in shares of The Pennant Group in the second quarter worth $253,000. 85.88% of the stock is currently owned by institutional investors.

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.