The Pennant Group (NASDAQ:PNTG) Sees Unusually-High Trading Volume – Time to Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) shares saw unusually-strong trading volume on Monday . Approximately 194,304 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 120,105 shares.The stock last traded at $25.86 and had previously closed at $26.54.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Wells Fargo & Company initiated coverage on shares of The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price on the stock. Truist Financial decreased their price target on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday. Finally, Oppenheimer increased their price objective on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

The Pennant Group Price Performance

The stock has a market capitalization of $874.50 million, a price-to-earnings ratio of 37.44, a P/E/G ratio of 2.99 and a beta of 1.93. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $30.28 and a 200-day moving average of $30.56.

Institutional Investors Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. Creative Planning increased its position in shares of The Pennant Group by 2.0% during the second quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after purchasing an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 buying an additional 471 shares during the period. D.A. Davidson & CO. lifted its stake in The Pennant Group by 4.0% in the third quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock valued at $540,000 after buying an additional 575 shares during the last quarter. Quarry LP lifted its stake in The Pennant Group by 371.6% in the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of The Pennant Group by 9.9% in the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock valued at $256,000 after acquiring an additional 991 shares during the period. 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.