The Pennant Group (NASDAQ:PNTG) Shares Down 7.6% - Here's What Happened

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) shares traded down 7.6% during trading on Friday . The stock traded as low as $23.38 and last traded at $23.60. 19,458 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 185,123 shares. The stock had previously closed at $25.54.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial decreased their price target on shares of The Pennant Group from $38.00 to $32.00 and set a "hold" rating for the company in a report on Monday, January 6th. Wells Fargo & Company started coverage on shares of The Pennant Group in a report on Thursday, December 19th. They set an "equal weight" rating and a $33.00 price target for the company. Finally, Oppenheimer lifted their target price 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

The Pennant Group Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $777.30 million, a price-to-earnings ratio of 33.28, a PEG ratio of 2.24 and a beta of 1.91. The stock's 50 day simple moving average is $26.42 and its 200-day simple moving average is $30.41.

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Institutional Investors Weigh In On The Pennant Group

Institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in shares of The Pennant Group by 4.0% in the 3rd quarter. D.A. Davidson & CO. now owns 15,126 shares of the company's stock valued at $540,000 after purchasing an additional 575 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of The Pennant Group by 20.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after purchasing an additional 575 shares in the last quarter. Quarry LP boosted its stake in shares of The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company's stock valued at $36,000 after purchasing an additional 799 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of The Pennant Group by 6.2% in the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock valued at $430,000 after purchasing an additional 954 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock valued at $259,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

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.