The Pennant Group (NASDAQ:PNTG) Price Target Raised to $31.00

The Pennant Group (NASDAQ:PNTG - Free Report) had its target price increased by Wells Fargo & Company from $30.00 to $31.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Truist Financial upped their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a report on Monday, May 12th. Stephens restated an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.20.

The Pennant Group Stock Down 0.7%

Shares of NASDAQ PNTG traded down $0.19 during trading hours on Tuesday, hitting $28.88. 122,259 shares of the stock were exchanged, compared to its average volume of 223,475. The Pennant Group has a 12 month low of $21.18 and a 12 month high of $37.13. The firm has a fifty day moving average price of $26.77 and a 200-day moving average price of $26.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a market cap of $995.46 million, a PE ratio of 42.47, a PEG ratio of 2.24 and a beta of 1.56.

Insider Activity

In related news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the transaction, the director now directly owns 30,275 shares in the company, valued at $892,204.25. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On The Pennant Group

A number of institutional investors have recently modified their holdings of the stock. NBC Securities Inc. acquired a new stake in The Pennant Group during the first quarter worth about $25,000. Turtle Creek Asset Management Inc. grew 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 worth $66,000 after purchasing an additional 1,500 shares during the period. Quarry LP increased its holdings in shares of The Pennant Group by 166.8% during 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 in the last quarter. Summit Investment Advisors Inc. lifted its stake 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 period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of The Pennant Group in the 4th quarter valued at $122,000. Hedge funds and other institutional investors 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.