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

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) shares gapped down before the market opened 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 traded.

Analyst Ratings Changes

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

The Pennant Group Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $906.39 million, a P/E ratio of 34.60, a P/E/G ratio of 2.20 and a beta of 1.51. The stock's fifty day moving average price is $28.12 and its two-hundred day moving average price is $26.56.

Insider Buying and Selling

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the sale, the director directly owned 30,275 shares in the company, valued at $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently modified their holdings of PNTG. Rhumbline Advisers boosted its stake in The Pennant Group by 6.0% in the fourth quarter. Rhumbline Advisers now owns 43,673 shares of the company's stock valued at $1,158,000 after buying an additional 2,480 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of The Pennant Group by 10.9% in the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock worth $371,000 after acquiring an additional 1,374 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of The Pennant Group by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 110,963 shares of the company's stock valued at $2,943,000 after purchasing an additional 3,233 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of The Pennant Group during the 4th quarter valued at approximately $487,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of The Pennant Group by 17.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company's stock valued at $7,542,000 after purchasing an additional 41,648 shares during the last quarter. 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.