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

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) saw strong trading volume on Tuesday . 153,459 shares changed hands during trading, a decline of 23% from the previous session’s volume of 200,066 shares.The stock last traded at $31.04 and had previously closed at $30.56.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial boosted their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Stephens reissued 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 lifted their price target on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada increased their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd.

The Pennant Group Stock Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 3.12 and a beta of 2.02. The stock has a 50-day moving average of $33.34 and a 200-day moving average of $29.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP grew its position 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 purchasing an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of The Pennant Group by 460.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after buying an additional 2,720 shares during the last quarter. USA Financial Formulas bought a new position in shares of The Pennant Group in the 3rd quarter valued at about $121,000. Intech Investment Management LLC acquired a new stake in shares of The Pennant Group in the third quarter valued at about $232,000. Finally, Bailard Inc. bought a new stake in The Pennant Group during the second quarter worth about $253,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.