The Pennant Group, Inc. (NASDAQ:PNTG) Short Interest Update

Key Points

• Short interest in The Pennant Group increased by 62.5% in September, reaching a total of 927,500 shares as of September 30th, indicating growing bearish sentiment among investors.
• The company's stock experienced a 3.2% increase, trading at $24.79, with an average daily trading volume of 340,600 shares.
• Consensus analyst ratings for The Pennant Group are predominantly "Moderate Buy", with a target price ranging from $28.00 to $40.00.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 927,500 shares, an increase of 62.5% from the September 15th total of 570,800 shares. Based on an average daily trading volume, of 340,600 shares, the short-interest ratio is currently 2.7 days. Based on an average daily trading volume, of 340,600 shares, the short-interest ratio is currently 2.7 days.

The Pennant Group Stock Up 3.2%

Shares of PNTG traded up $0.76 during mid-day trading on Wednesday, reaching $24.79. The company's stock had a trading volume of 164,134 shares, compared to its average volume of 258,390. The company has a market cap of $856.83 million, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.03 and a beta of 1.35. The business has a fifty day moving average of $24.73 and a 200 day moving average of $25.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group has a 1 year low of $21.18 and a 1 year high of $34.82.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Truist Financial lowered their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Thursday, October 9th. Wall Street Zen cut shares of The Pennant Group from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of The Pennant Group in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.40.

Institutional Trading of The Pennant Group

Several large investors have recently added to or reduced their stakes in PNTG. Versor Investments LP raised its holdings in shares of The Pennant Group by 6.2% during the 1st quarter. Versor Investments LP now owns 12,000 shares of the company's stock valued at $302,000 after purchasing an additional 700 shares in the last quarter. Quantum Portfolio Management LLC raised its holdings in The Pennant Group by 4.7% during the second quarter. Quantum Portfolio Management LLC now owns 16,049 shares of the company's stock valued at $479,000 after buying an additional 721 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of The Pennant Group by 4.8% in the second quarter. Intech Investment Management LLC now owns 17,800 shares of the company's stock worth $531,000 after buying an additional 822 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of The Pennant Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock worth $488,000 after buying an additional 857 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of The Pennant Group by 13.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,922 shares of the company's stock worth $236,000 after acquiring an additional 953 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

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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