The Pennant Group, Inc. (NASDAQ:PNTG) Director Joanne Stringfield Sells 380 Shares of Stock

The Pennant Group, Inc. (NASDAQ:PNTG) Director Joanne Stringfield sold 380 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $33.56, for a total transaction of $12,752.80. Following the completion of the sale, the director now directly owns 27,805 shares of the company’s stock, valued at $933,135.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The Pennant Group Price Performance

PNTG stock opened at $33.53 on Friday. The Pennant Group, Inc. has a 52-week low of $10.46 and a 52-week high of $37.13. The business has a 50-day simple moving average of $33.94 and a two-hundred day simple moving average of $27.58. The company has a market capitalization of $1.01 billion, a P/E ratio of 62.09, a price-to-earnings-growth ratio of 3.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The business had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. Research analysts expect that The Pennant Group, Inc. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNTG. Principal Financial Group Inc. purchased a new stake in shares of The Pennant Group during the first quarter valued at approximately $197,000. Mirae Asset Global Investments Co. Ltd. grew its position in The Pennant Group by 101.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock valued at $450,000 after purchasing an additional 11,536 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of The Pennant Group by 14.9% during the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock valued at $1,724,000 after acquiring an additional 11,359 shares in the last quarter. Sei Investments Co. raised its stake in shares of The Pennant Group by 679.7% in the first quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after purchasing an additional 118,581 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of The Pennant Group in the first quarter worth approximately $279,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNTG shares. Oppenheimer increased their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Truist Financial raised their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada upped their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday.

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.