Joanne Stringfield Sells 665 Shares of The Pennant Group, Inc. (NASDAQ:PNTG) Stock

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) Director Joanne Stringfield sold 665 shares of The Pennant Group stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.88, for a total transaction of $18,540.20. Following the completion of the transaction, the director now owns 29,040 shares in the company, valued at approximately $809,635.20. This trade represents a 2.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

The Pennant Group Price Performance

NASDAQ PNTG traded down $0.69 on Friday, reaching $26.54. The company's stock had a trading volume of 60,441 shares, compared to its average volume of 204,341. The firm has a market cap of $911.42 million, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.35 and a beta of 1.91. The business has a 50-day moving average price of $27.82 and a 200 day moving average price of $30.92. The Pennant Group, Inc. has a 52 week low of $15.01 and a 52 week high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Institutional Trading of The Pennant Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van Berkom & Associates Inc. grew its stake in The Pennant Group by 2,635.6% during the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock worth $58,297,000 after buying an additional 2,117,859 shares during the last quarter. FMR LLC lifted its position in shares of The Pennant Group by 51.3% during the third quarter. FMR LLC now owns 2,528,512 shares of the company's stock worth $90,268,000 after purchasing an additional 856,838 shares in the last quarter. Atom Investors LP acquired a new position in shares of The Pennant Group during the third quarter worth approximately $3,981,000. Raymond James Financial Inc. acquired a new position in shares of The Pennant Group during the fourth quarter worth approximately $2,570,000. Finally, JPMorgan Chase & Co. lifted its position in shares of The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock worth $7,351,000 after purchasing an additional 83,664 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNTG. Truist Financial lowered their price target on shares of The Pennant Group from $38.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company began coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of 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, Oppenheimer lifted their price objective on shares of The Pennant Group from $34.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.00.

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.