The Pennant Group (NASDAQ:PNTG) Downgraded by Wall Street Zen to Hold

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.

The Pennant Group (NASDAQ:PNTG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

PNTG has been the subject of a number of other research reports. Truist Financial cut their price target on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Stephens restated an "overweight" rating and issued a $40.00 price objective on shares of The Pennant Group in a report on Thursday. Finally, 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 for the company in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.40.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $24.29 on Friday. The company has a 50 day moving average of $24.54 and a 200 day moving average of $25.73. The stock has a market cap of $839.46 million, a P/E ratio of 31.14, a P/E/G ratio of 1.98 and a beta of 1.31. The Pennant Group has a 12 month low of $21.18 and a 12 month 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.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versor Investments LP raised its holdings in 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 buying an additional 700 shares during the last quarter. Quantum Portfolio Management LLC raised its holdings in The Pennant Group by 4.7% during the 2nd 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 during the last quarter. Intech Investment Management LLC raised its holdings in The Pennant Group by 4.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,800 shares of the company's stock valued at $531,000 after buying an additional 822 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock valued at $488,000 after buying an additional 857 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in 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 valued at $236,000 after buying an additional 953 shares during the last quarter. 85.88% of the stock is currently 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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