The Pennant Group (NASDAQ:PNTG) Shares Gap Down to $17.36

The Pennant Group, Inc. (NASDAQ:PNTGGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $17.36, but opened at $16.83. The Pennant Group shares last traded at $17.84, with a volume of 237 shares traded.

A number of equities research analysts have commented on PNTG shares. Stifel Nicolaus downgraded The Pennant Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $18.00 in a research report on Tuesday, March 1st. Royal Bank of Canada reduced their target price on The Pennant Group from $37.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, March 10th. Stephens reduced their target price on The Pennant Group from $33.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Zacks Investment Research upgraded The Pennant Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Truist Financial boosted their price objective on The Pennant Group from $17.00 to $20.00 in a report on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.50.

The company has a fifty day simple moving average of $17.11 and a two-hundred day simple moving average of $18.30. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.48. The company has a market cap of $499.06 million, a PE ratio of 217.00 and a beta of 2.42.

The Pennant Group (NASDAQ:PNTGGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.10. The Pennant Group had a return on equity of 6.03% and a net margin of 0.62%. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, research analysts anticipate that The Pennant Group, Inc. will post 0.39 EPS for the current fiscal year.

In other news, Director Christopher R. Christensen bought 21,603 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The stock was purchased at an average cost of $16.50 per share, with a total value of $356,449.50. Following the transaction, the director now directly owns 572,736 shares in the company, valued at $9,450,144. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher R. Christensen bought 2,668 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was purchased at an average cost of $16.50 per share, with a total value of $44,022.00. Following the completion of the transaction, the director now owns 581,133 shares in the company, valued at $9,588,694.50. The disclosure for this purchase can be found here. 10.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in The Pennant Group during the 4th quarter worth approximately $55,000. Sageworth Trust Co of South Dakota acquired a new stake in The Pennant Group during the 4th quarter worth approximately $29,000. Thrivent Financial for Lutherans lifted its position in The Pennant Group by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,779 shares of the company’s stock worth $612,000 after acquiring an additional 954 shares during the period. Everence Capital Management Inc. acquired a new stake in The Pennant Group during the 4th quarter worth approximately $241,000. Finally, EMC Capital Management lifted its position in The Pennant Group by 28.8% during the 4th quarter. EMC Capital Management now owns 46,098 shares of the company’s stock worth $1,064,000 after acquiring an additional 10,314 shares during the period. 88.84% of the stock is owned by institutional investors.

About The Pennant Group (NASDAQ:PNTG)

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.

Recommended Stories

Receive News & Ratings for The Pennant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Pennant Group and related companies with MarketBeat.com's FREE daily email newsletter.