Truist Financial Issues Pessimistic Forecast for The Pennant Group (NASDAQ:PNTG) Stock Price

The Pennant Group (NASDAQ:PNTG - Get Free Report) had its target price dropped by analysts at Truist Financial from $32.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price would suggest a potential upside of 20.13% from the stock's current price.

Several other research firms have also commented on PNTG. Stephens restated an "overweight" rating and issued a $35.00 price target on shares of The Pennant Group in a report on Tuesday, June 10th. Wells Fargo & Company lifted their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and a consensus target price of $33.80.

The Pennant Group Stock Down 2.5%

NASDAQ PNTG traded down $0.60 during midday trading on Wednesday, hitting $23.31. 142,976 shares of the company traded hands, compared to its average volume of 236,222. The company has a market cap of $803.43 million, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.41. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $37.13. The company's 50-day simple moving average is $27.89 and its 200-day simple moving average is $26.43.

Insider Activity at The Pennant Group

In related 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 transaction, the director owned 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by company insiders.

Institutional Trading of The Pennant Group

Several large investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in The Pennant Group during the first quarter valued at $25,000. Turtle Creek Asset Management Inc. raised its stake in shares of The Pennant Group by 150.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after buying an additional 1,500 shares during the last quarter. Quarry LP lifted its holdings 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 buying an additional 1,691 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock worth $91,000 after buying an additional 575 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in The Pennant Group during the fourth quarter worth about $122,000. 85.88% of the stock is owned by hedge funds and other 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.