The Pennant Group (NASDAQ:PNTG) Shares Gap Up to $28.60

The Pennant Group, Inc. (NASDAQ:PNTG) gapped up before the market opened on Wednesday . The stock had previously closed at $28.60, but opened at $30.92. The Pennant Group shares last traded at $28.17, with a volume of 24,604 shares changing hands.

Wall Street Analyst Weigh In

PNTG has been the subject of several recent analyst reports. Truist Financial increased their target price on The Pennant Group from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Stephens restated an “overweight” rating and set a $25.00 target price on shares of The Pennant Group in a research note on Thursday, June 20th. Finally, Royal Bank of Canada increased their target price on The Pennant Group from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

The Pennant Group Price Performance

The stock has a 50-day simple moving average of $25.12 and a 200 day simple moving average of $21.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $882.45 million, a P/E ratio of 52.96, a P/E/G ratio of 3.17 and a beta of 2.00.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The Pennant Group had a return on equity of 13.42% and a net margin of 2.86%. The company had revenue of $156.92 million during the quarter, compared to the consensus estimate of $146.01 million. On average, equities analysts expect that The Pennant Group, Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 8 Knots Management LLC lifted its position in shares of The Pennant Group by 34.0% during the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after buying an additional 625,061 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 77,052 shares in the last quarter. Wasatch Advisors LP increased its position in shares of The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after acquiring an additional 46,484 shares during the last quarter. Crewe Advisors LLC increased its position in shares of The Pennant Group by 0.7% in the fourth quarter. Crewe Advisors LLC now owns 1,108,104 shares of the company’s stock valued at $15,425,000 after acquiring an additional 7,797 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of The Pennant Group by 8.2% in the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock valued at $6,915,000 after acquiring an additional 26,670 shares during the last quarter. Institutional investors 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.