The Pennant Group (NASDAQ:PNTG) Stock Rating Lowered by Wall Street Zen

Key Points

• The Pennant Group (NASDAQ:PNTG) was downgraded from a "buy" to a "hold" rating by Wall Street Zen in a report issued recently.
• The stock has seen recent price target adjustments, with Truist Financial lowering theirs from $32.00 to $28.00, while market analysts maintain a consensus rating of "Moderate Buy" with an average target price of $34.40.
• Institutional investors hold a significant portion of the company, with approximately 85.88% of the stock currently owned by institutional entities as they continue to adjust their stakes.

Wall Street Zen downgraded shares of The Pennant Group (NASDAQ:PNTG - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other research firms have also issued reports on PNTG. Truist Financial decreased their target price 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 set a $40.00 target price on shares of The Pennant Group in a research note on Thursday, September 4th. Finally, Wells Fargo & Company decreased their target price on 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. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, The Pennant Group presently has an average rating of "Moderate Buy" and a consensus price target of $34.40.

The Pennant Group Trading Up 4.5%

PNTG traded up $1.11 during mid-day trading on Friday, hitting $25.71. 378,820 shares of the stock were exchanged, compared to its average volume of 364,633. The firm's fifty day moving average is $24.36 and its two-hundred day moving average is $25.71. The Pennant Group has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $888.54 million, a PE ratio of 32.96, a PEG ratio of 2.02 and a beta of 1.31.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. 8 Knots Management LLC grew its stake in The Pennant Group by 23.9% during the 1st quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company's stock worth $75,803,000 after buying an additional 581,313 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in shares of The Pennant Group by 29.6% in the 1st quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company's stock valued at $71,666,000 after purchasing an additional 651,346 shares during the last quarter. Ophir Asset Management Pty Ltd grew its stake in shares of The Pennant Group by 403.9% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company's stock valued at $31,305,000 after purchasing an additional 840,642 shares during the last quarter. Paradigm Capital Management Inc. NY grew its stake in shares of The Pennant Group by 1.7% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 955,000 shares of the company's stock valued at $24,018,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of The Pennant Group by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 832,481 shares of the company's stock valued at $24,853,000 after purchasing an additional 36,357 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

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.