The Pennant Group (NASDAQ:PNTG) Shares Gap Down - Should You Sell?

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $29.85, but opened at $28.45. The Pennant Group shares last traded at $27.35, with a volume of 160,168 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PNTG shares. Wells Fargo & Company boosted their target price on shares of The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Stephens reaffirmed an "overweight" rating and set a $35.00 target price on shares of The Pennant Group in a research note on Tuesday, June 10th. Finally, Truist Financial upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

The Pennant Group Stock Performance

The firm's 50 day moving average is $28.05 and its two-hundred day moving average is $26.59. The stock has a market capitalization of $931.38 million, a PE ratio of 35.55, a P/E/G ratio of 2.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.41 and a current ratio of 1.41.

Insider Activity at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the sale, the director directly owned 30,275 shares of the company's stock, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On The Pennant Group

Large investors have recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of The Pennant Group in the 1st quarter valued at approximately $25,000. Turtle Creek Asset Management Inc. increased its position in shares of The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after purchasing an additional 1,500 shares during the last quarter. Quarry LP increased its position in shares of The Pennant Group by 166.8% in the 4th quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after purchasing an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of The Pennant Group by 20.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after purchasing an additional 575 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of The Pennant Group in the 4th quarter valued at approximately $122,000. 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.