The Pennant Group, Inc. (NASDAQ:PNTG) EVP Kirk Sterling Cheney Sells 880 Shares

Key Points

• Kirk Sterling Cheney, EVP of The Pennant Group, sold 880 shares of the company at an average price of $23.34, reducing his position by 6.29%.
• The Pennant Group’s stock increased by 8.4%, trading at $24.12 with a market capitalization of approximately $831.39 million.
• Institutional investors hold 85.88% of The Pennant Group's shares, with notable increases in stakes from firms like Turtle Creek Asset Management and Quarry LP.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) EVP Kirk Sterling Cheney sold 880 shares of The Pennant Group stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $23.34, for a total value of $20,539.20. Following the transaction, the executive vice president owned 13,120 shares in the company, valued at approximately $306,220.80. The trade was a 6.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

The Pennant Group Trading Up 8.4%

Shares of PNTG stock traded up $1.86 on Thursday, hitting $24.12. The stock had a trading volume of 1,024,552 shares, compared to its average volume of 233,692. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $831.39 million, a P/E ratio of 31.74, a P/E/G ratio of 1.89 and a beta of 1.48. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $37.13. The company's 50 day moving average price is $26.18 and its 200-day moving average price is $26.06.

Institutional Investors Weigh In On The Pennant Group

Institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of The Pennant Group in the 1st quarter valued at $25,000. Turtle Creek Asset Management Inc. raised its holdings in shares of The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after buying an additional 1,500 shares during the period. Quarry LP increased its holdings in The Pennant Group by 166.8% during the 4th quarter. Quarry LP now owns 2,705 shares of the company's stock worth $72,000 after purchasing an additional 1,691 shares during the period. Summit Investment Advisors Inc. increased its holdings in The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock worth $91,000 after purchasing an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new stake in The Pennant Group during the 4th quarter worth about $122,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Stephens reiterated an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research report on Tuesday, June 10th. Finally, Truist Financial reduced their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.80.

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.

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