The Pennant Group (NASDAQ:PNTG) Shares Down 8.7% – Time to Sell?

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price dropped 8.7% during trading on Friday. The stock traded as low as $36.60 and last traded at $36.5210. 776,664 shares changed hands during mid-day trading, an increase of 155% from the average daily volume of 304,323 shares. The stock had previously closed at $40.00.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNTG. Oppenheimer boosted their target price on shares of The Pennant Group from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada raised their target price on shares of The Pennant Group from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings upgraded The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Wells Fargo & Company raised their price objective on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Truist Financial lifted their target price on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

The Pennant Group Stock Down 8.7%

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.28 billion, a PE ratio of 36.99, a P/E/G ratio of 2.87 and a beta of 1.33. The business’s 50-day simple moving average is $40.19 and its 200 day simple moving average is $35.66.

The Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $302.25 million for the quarter, compared to analysts’ expectations of $299.34 million. The Pennant Group had a net margin of 3.05% and a return on equity of 10.43%. As a group, equities research analysts expect that The Pennant Group, Inc. will post 1.18 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in The Pennant Group in the second quarter worth $109,340,000. Wasatch Advisors LP boosted its position in shares of The Pennant Group by 31.8% in the 2nd quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company’s stock worth $69,103,000 after purchasing an additional 451,491 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its position in shares of The Pennant Group by 12,075.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock worth $48,244,000 after purchasing an additional 1,569,823 shares in the last quarter. Paradigm Capital Management Inc. NY purchased a new position in The Pennant Group during the 2nd quarter worth $51,833,000. Finally, Dimensional Fund Advisors LP grew its stake in The Pennant Group by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 815,660 shares of the company’s stock worth $24,861,000 after buying an additional 11,943 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Company Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.