The Pennant Group (NASDAQ:PNTG) Sees Large Volume Increase - Should You Buy?

Key Points

• Shares of The Pennant Group experienced a significant trading volume increase of 265%, with 933,660 shares traded on a recent Tuesday, closing at $24.05.
• Three analysts have rated the stock as a Buy while three have given it a Hold rating, resulting in a consensus rating of "Moderate Buy" and an average price target of $34.40.
• Institutional investors have shown strong interest, with 85.88% of the stock owned by hedge funds and various institutional investors increasing their stakes significantly.

Shares of The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) saw an uptick in trading volume on Tuesday . 933,660 shares were traded during trading, an increase of 265% from the previous session's volume of 255,609 shares.The stock last traded at $24.05 and had previously closed at $24.00.

Analyst Upgrades and Downgrades

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

The Pennant Group Stock Up 0.3%

The stock has a market capitalization of $831.86 million, a PE ratio of 30.91, a P/E/G ratio of 1.97 and a beta of 1.35. The stock's 50-day moving average price is $24.79 and its two-hundred day moving average price is $25.86. 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 Investors Weigh In On The Pennant Group

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in The Pennant Group by 7,124.5% in the 1st quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock worth $200,000 after purchasing an additional 7,837 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of The Pennant Group by 205.9% in the first quarter. Cubist Systematic Strategies LLC now owns 97,527 shares of the company's stock worth $2,453,000 after buying an additional 65,640 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of The Pennant Group during the second quarter valued at approximately $211,000. Mackenzie Financial Corp increased its position in shares of The Pennant Group by 25.2% during the first quarter. Mackenzie Financial Corp now owns 22,446 shares of the company's stock valued at $565,000 after acquiring an additional 4,522 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in The Pennant Group in the 1st quarter worth approximately $285,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.

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