The Pennant Group (NASDAQ:PNTG) Trading Down 5.9% – Here’s Why

The Pennant Group, Inc. (NASDAQ:PNTG) shares fell 5.9% during trading on Monday . The company traded as low as $32.76 and last traded at $32.80. 132,307 shares traded hands during trading, a decline of 32% from the average session volume of 193,813 shares. The stock had previously closed at $34.85.

Wall Street Analysts Forecast Growth

PNTG has been the topic of several research reports. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. 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 note on Monday, October 7th. Finally, Oppenheimer lifted their price objective on 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 5.7 %

The stock has a market cap of $987.01 million, a price-to-earnings ratio of 64.54, a P/E/G ratio of 3.57 and a beta of 2.01. The business has a fifty day moving average of $33.67 and a 200 day moving average of $27.23. 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 Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $168.75 million for the quarter, compared to analyst estimates of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. On average, equities analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors have recently bought and sold shares of the stock. Creative Planning increased its holdings in shares of The Pennant Group by 2.0% during the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock valued at $444,000 after acquiring an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position 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 purchasing an additional 471 shares during the period. Principal Financial Group Inc. boosted its position 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 purchasing an additional 991 shares during the period. Covestor Ltd grew its holdings in The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Trust Point Inc. raised its position in shares of The Pennant Group by 9.7% in the third quarter. Trust Point Inc. now owns 24,926 shares of the company’s stock valued at $890,000 after purchasing an additional 2,199 shares during the period. 85.88% of the stock is currently 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.