The Pennant Group (NASDAQ:PNTG) Given Overweight Rating at Stephens

The Pennant Group (NASDAQ:PNTG)‘s stock had its “overweight” rating reaffirmed by analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $35.00 target price on the stock. Stephens’ price target indicates a potential upside of 21.65% from the stock’s current price.

PNTG has been the subject of a number of other reports. Wells Fargo & Company raised their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Truist Financial lifted their target price on The Pennant Group from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.60.

The Pennant Group Trading Down 0.2%

Shares of The Pennant Group stock traded down $0.06 during trading hours on Tuesday, reaching $28.77. The stock had a trading volume of 6,501 shares, compared to its average volume of 223,091. The firm has a market capitalization of $991.67 million, a price-to-earnings ratio of 42.31, a P/E/G ratio of 2.24 and a beta of 1.51. The Pennant Group has a 1 year low of $21.18 and a 1 year 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. The firm has a 50 day simple moving average of $27.10 and a two-hundred day simple moving average of $26.81.

Insider Activity

In related news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the sale, the director now owns 30,275 shares of the company’s stock, valued at approximately $892,204.25. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Van Berkom & Associates Inc. boosted its holdings 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 valued at $58,297,000 after acquiring an additional 2,117,859 shares during the period. FMR LLC boosted its position in shares of The Pennant Group by 54.5% in the fourth quarter. FMR LLC now owns 3,906,327 shares of the company’s stock valued at $103,596,000 after acquiring an additional 1,377,815 shares during the period. 8 Knots Management LLC increased its position in The Pennant Group by 23.9% during the first quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock worth $75,803,000 after acquiring an additional 581,313 shares during the period. Nuveen LLC bought a new stake in The Pennant Group in the 1st quarter valued at $9,181,000. Finally, Vanguard Group Inc. raised its position in shares of The Pennant Group by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock valued at $59,977,000 after buying an additional 223,919 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

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.