The Pennant Group, Inc. (NASDAQ:PNTG) EVP Sells $20,539.20 in Stock

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 directly owned 13,120 shares in the company, valued at approximately $306,220.80. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The Pennant Group Stock Up 1.3%

NASDAQ:PNTG traded up $0.34 on Monday, hitting $26.34. The stock had a trading volume of 34,406 shares, compared to its average volume of 237,452. The firm's fifty day simple moving average is $26.04 and its two-hundred day simple moving average is $26.00. The stock has a market cap of $910.14 million, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 2.21 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 has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

PNTG has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Truist Financial lowered their price target on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Stephens reissued an "overweight" rating and issued a $35.00 target price on shares of The Pennant Group in a report on Tuesday, June 10th. Finally, Wall Street Zen raised The Pennant Group from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.80.

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.