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

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

A number of other equities research analysts have also recently commented on the company. Stephens reissued an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial increased their target price on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.20.

The Pennant Group Stock Down 0.3%

Shares of NASDAQ PNTG traded down $0.09 during trading on Tuesday, reaching $29.55. The company had a trading volume of 155,412 shares, compared to its average volume of 223,854. The Pennant Group has a 12-month low of $21.18 and a 12-month high of $37.13. The stock has a market cap of $1.02 billion, a PE ratio of 43.46, a P/E/G ratio of 2.24 and a beta of 1.56. The business's 50-day moving average is $27.03 and its 200 day moving average is $26.88. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58.

Insider Activity at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of the 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 sale, the director now directly owns 30,275 shares of the company's stock, valued at $892,204.25. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Pennant Group

Several institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. boosted its position in shares of The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after buying an additional 575 shares during the last quarter. Versor Investments LP boosted its position in The Pennant Group by 6.2% in the first quarter. Versor Investments LP now owns 12,000 shares of the company's stock worth $302,000 after purchasing an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in The Pennant Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock worth $488,000 after purchasing an additional 857 shares during the last quarter. Corebridge Financial Inc. boosted its position in The Pennant Group by 6.2% in the fourth quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after purchasing an additional 954 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in The Pennant Group in the first quarter worth about $25,000. 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.