The Pennant Group, Inc. (NASDAQ:PNTG) Sees Large Growth in Short Interest

The Pennant Group, Inc. (NASDAQ:PNTG) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 488,300 shares, a growth of 28.1% from the August 15th total of 381,200 shares. Based on an average trading volume of 197,400 shares, the short-interest ratio is currently 2.5 days.

The Pennant Group Price Performance

Shares of PNTG stock traded up $0.40 during trading hours on Monday, hitting $34.92. The stock had a trading volume of 130,943 shares, compared to its average volume of 171,101. The Pennant Group has a one year low of $10.31 and a one year high of $35.57. 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 stock’s 50-day moving average price is $30.55 and its two-hundred day moving average price is $24.65. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 64.67, a PEG ratio of 3.42 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. The firm had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. Equities analysts forecast that The Pennant Group will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial boosted their price objective on The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Stephens lifted their target price on The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Oppenheimer lifted their target price on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th.

Institutional Investors Weigh In On The Pennant Group

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in The Pennant Group by 2.0% during the second quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after acquiring an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in The Pennant Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after acquiring an additional 471 shares during the last quarter. Principal Financial Group Inc. increased its stake in The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after acquiring an additional 991 shares during the last quarter. Covestor Ltd increased its stake in The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in The Pennant Group by 17.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,486 shares of the company’s stock worth $406,000 after acquiring an additional 2,549 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

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.