The Pennant Group (NASDAQ:PNTG) Trading Down 8% - What's Next?

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) traded down 8% on Thursday . The company traded as low as $28.80 and last traded at $30.48. 98,922 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 196,096 shares. The stock had previously closed at $33.12.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Truist Financial increased their price objective on The Pennant Group from $34.00 to $38.00 and gave the company a "hold" rating in a research note on Monday, October 7th. Stephens reaffirmed an "overweight" rating and set a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th. Finally, Oppenheimer increased their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th.

The Pennant Group Stock Down 6.1 %

The business's 50 day simple moving average is $33.82 and its 200 day simple moving average is $28.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $942.64 million, a PE ratio of 48.29, a P/E/G ratio of 3.32 and a beta of 2.02.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The business had revenue of $168.75 million during the quarter, compared to analysts' expectations of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. As a group, analysts anticipate that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On The Pennant Group

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in The Pennant Group by 101.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company's stock valued at $450,000 after acquiring an additional 11,536 shares in the last quarter. ClariVest Asset Management LLC lifted its position in shares of The Pennant Group by 14.9% during the 1st quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company's stock worth $1,724,000 after purchasing an additional 11,359 shares during the last quarter. Sei Investments Co. lifted its position in shares of The Pennant Group by 679.7% during the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company's stock worth $2,670,000 after purchasing an additional 118,581 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of The Pennant Group during the first quarter worth $279,000. Finally, Vanguard Group Inc. increased its holdings in The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company's stock valued at $36,505,000 after buying an additional 77,052 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

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.

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