Stephens Reaffirms “Overweight” Rating for The Pennant Group (NASDAQ:PNTG)

The Pennant Group (NASDAQ:PNTG)‘s stock had its “overweight” rating reissued by analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $35.00 target price on the stock. Stephens’ price objective suggests a potential upside of 21.65% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company boosted their target price on The Pennant Group from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Truist Financial raised their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and an average price target of $34.60.

The Pennant Group Stock Performance

The Pennant Group stock traded down $0.06 during trading on Tuesday, reaching $28.77. The company had a trading volume of 6,501 shares, compared to its average volume of 223,091. The firm has a market capitalization of $991.67 million, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $27.10 and its 200 day simple moving average is $26.81. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $37.13.

Insider Transactions at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the transaction, the director now directly owns 30,275 shares in the company, valued at $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On The Pennant Group

Institutional investors have recently modified their holdings of the company. Van Berkom & Associates Inc. lifted its position in shares of The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after buying an additional 2,117,859 shares during the last quarter. FMR LLC raised its stake in The Pennant Group by 54.5% during the 4th quarter. FMR LLC now owns 3,906,327 shares of the company’s stock worth $103,596,000 after acquiring an additional 1,377,815 shares in the last quarter. 8 Knots Management LLC lifted its position in The Pennant Group by 23.9% in the first quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock valued at $75,803,000 after acquiring an additional 581,313 shares during the last quarter. Nuveen LLC purchased a new stake in The Pennant Group in the first quarter valued at $9,181,000. Finally, Vanguard Group Inc. boosted its stake in The Pennant Group by 11.0% in the fourth quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock valued at $59,977,000 after acquiring an additional 223,919 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.