The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. lessened its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,054 shares of the company’s stock after selling 3,865 shares during the quarter. Watershed Asset Management L.L.C. owned about 0.06% of The Pennant Group worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in The Pennant Group in the fourth quarter worth approximately $155,000. Cornercap Investment Counsel Inc. acquired a new position in The Pennant Group in the fourth quarter worth approximately $596,000. DekaBank Deutsche Girozentrale acquired a new position in The Pennant Group in the fourth quarter worth approximately $52,000. Trust Point Inc. acquired a new position in The Pennant Group in the fourth quarter worth approximately $229,000. Finally, SG Americas Securities LLC acquired a new position in The Pennant Group in the fourth quarter worth approximately $107,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Trading Up 2.7 %

NASDAQ PNTG traded up $0.57 on Tuesday, hitting $21.42. 197,934 shares of the stock were exchanged, compared to its average volume of 141,563. The Pennant Group, Inc. has a 52-week low of $10.31 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $650.95 million, a price-to-earnings ratio of 48.68, a P/E/G ratio of 2.14 and a beta of 2.06. The company’s 50-day moving average price is $18.97 and its two-hundred day moving average price is $15.48.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The Pennant Group had a return on equity of 12.78% and a net margin of 2.46%. The firm had revenue of $145.95 million for the quarter, compared to analysts’ expectations of $136.79 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Research analysts predict that The Pennant Group, Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stephens upgraded shares of The Pennant Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $18.00 in a research report on Friday, January 5th. Oppenheimer lifted their price target on shares of The Pennant Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Truist Financial lifted their price objective on shares of The Pennant Group from $16.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, March 1st.

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.