The Pennant Group (NASDAQ:PNTG) Given Overweight Rating at Stephens

Key Points

• Stephens reiterated an "overweight" rating for The Pennant Group (NASDAQ:PNTG) with a target price of $40.00, suggesting a potential upside of 58.17% from its current price.
• Other brokerages have mixed views, with Wells Fargo reducing its target from $31.00 to $29.00 and maintaining an "equal weight" rating.
• The Pennant Group's stock has experienced significant institutional investment increases, with hedge funds boosting their positions by as much as 7,124.5% in the first quarter.

The Pennant Group (NASDAQ:PNTG - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Stephens in a report released on Thursday,Benzinga reports. They currently have a $40.00 target price on the stock. Stephens' price objective would indicate a potential upside of 58.17% from the company's current price.

A number of other brokerages have also recently weighed in on PNTG. Wells Fargo & Company dropped their price target on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Wall Street Zen lowered The Pennant Group from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Truist Financial reduced their price objective 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. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of The Pennant Group in a research note on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.40.

The Pennant Group Trading Up 1.1%

NASDAQ:PNTG opened at $25.29 on Thursday. The stock has a fifty day moving average price of $24.66 and a two-hundred day moving average price of $25.89. The stock has a market capitalization of $874.02 million, a price-to-earnings ratio of 32.42, a PEG ratio of 2.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The Pennant Group has a 1 year low of $21.18 and a 1 year high of $36.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its position in The Pennant Group by 56.9% during the 1st quarter. SG Americas Securities LLC now owns 23,413 shares of the company's stock valued at $589,000 after purchasing an additional 8,490 shares during the period. GAMMA Investing LLC boosted its position in The Pennant Group by 7,124.5% during the 1st quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock valued at $200,000 after purchasing an additional 7,837 shares during the period. Cubist Systematic Strategies LLC boosted its position in The Pennant Group by 205.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 97,527 shares of the company's stock valued at $2,453,000 after purchasing an additional 65,640 shares during the period. Rhumbline Advisers boosted its position in The Pennant Group by 8.6% during the 1st quarter. Rhumbline Advisers now owns 47,423 shares of the company's stock valued at $1,193,000 after purchasing an additional 3,750 shares during the period. Finally, Mackenzie Financial Corp boosted its position in The Pennant Group by 25.2% during the 1st quarter. Mackenzie Financial Corp now owns 22,446 shares of the company's stock valued at $565,000 after purchasing an additional 4,522 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

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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