The Pennant Group (NASDAQ:PNTG) Sees Large Volume Increase – Still a Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw an uptick in trading volume on Tuesday . 153,459 shares were traded during trading, a decline of 23% from the previous session’s volume of 200,066 shares.The stock last traded at $31.04 and had previously closed at $30.56.

Analysts Set New Price Targets

Several research analysts have recently commented on PNTG shares. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Oppenheimer boosted their price objective on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. 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. Finally, Truist Financial upped their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th.

The Pennant Group Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 3.12 and a beta of 2.02. The company has a 50 day moving average price of $33.34 and a 200 day moving average price of $29.46.

Institutional Trading of The Pennant Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNTG. State Board of Administration of Florida Retirement System acquired a new stake in shares of The Pennant Group during the 1st quarter worth approximately $279,000. Vanguard Group Inc. raised its position in shares of The Pennant Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after acquiring an additional 77,052 shares during the last quarter. Boston Partners lifted its stake in shares of The Pennant Group by 15.2% in the 1st quarter. Boston Partners now owns 115,682 shares of the company’s stock valued at $2,273,000 after purchasing an additional 15,291 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of The Pennant Group by 10.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,195 shares of the company’s stock valued at $3,019,000 after purchasing an additional 12,141 shares during the period. Finally, Bailard Inc. bought a new position in shares of The Pennant Group in the 2nd quarter worth $253,000. 85.88% of the stock is 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.