The Pennant Group (NASDAQ:PNTG) Trading Up 4.5% – Should You Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) shares shot up 4.5% during trading on Tuesday . The stock traded as high as $31.35 and last traded at $31.35. 58,978 shares traded hands during trading, a decline of 70% from the average session volume of 199,725 shares. The stock had previously closed at $30.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PNTG shares. Stephens restated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th. Oppenheimer increased their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial upped their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th.

The Pennant Group Stock Down 1.0 %

The firm has a 50-day simple moving average of $32.47 and a 200 day simple moving average of $29.99. The stock has a market capitalization of $1.03 billion, a P/E ratio of 44.13, a P/E/G ratio of 3.07 and a beta of 1.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Institutional Investors Weigh In On The Pennant Group

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its position in The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of The Pennant Group by 460.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after purchasing an additional 2,720 shares during the last quarter. USA Financial Formulas acquired a new stake in The Pennant Group in the third quarter valued at $121,000. Intech Investment Management LLC bought a new position in The Pennant Group during the 3rd quarter worth $232,000. Finally, Bailard Inc. acquired a new position in The Pennant Group during the 2nd quarter worth about $253,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.