The Pennant Group (NASDAQ:PNTG) Sees Strong Trading Volume – Here’s What Happened

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw unusually-strong trading volume on Wednesday . Approximately 630,424 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 278,020 shares.The stock last traded at $41.4210 and had previously closed at $39.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Truist Financial upped their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their target price on The Pennant Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.60.

The Pennant Group Price Performance

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 stock has a 50-day moving average price of $39.47 and a 200 day moving average price of $35.25. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 2.61 and a beta of 1.27.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $297.98 million during the quarter, compared to analysts’ expectations of $288.71 million. The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%.The Pennant Group has set its FY 2026 guidance at 1.340-1.410 EPS. As a group, equities research analysts expect that The Pennant Group, Inc. will post 1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in The Pennant Group during the second quarter worth $109,340,000. Wasatch Advisors LP lifted its holdings in The Pennant Group by 31.8% during the second quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company’s stock valued at $69,103,000 after purchasing an additional 451,491 shares in the last quarter. Turtle Creek Asset Management Inc. grew its position in shares of The Pennant Group by 12,075.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock valued at $48,244,000 after purchasing an additional 1,569,823 shares during the period. Paradigm Capital Management Inc. NY acquired a new stake in shares of The Pennant Group in the second quarter valued at about $51,833,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of The Pennant Group by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 815,660 shares of the company’s stock worth $24,861,000 after purchasing an additional 11,943 shares in 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 personal care businesses, as well as senior living communities. Its services are designed to support older adults and other patients in their homes, residential settings and communities, with offerings that may include skilled nursing, therapy, hospice care, assisted living and memory care.

The company serves patients and residents through a network of affiliated operating companies and communities across multiple U.S.