The Pennant Group (NASDAQ:PNTG) Stock Price Down 4.5%

The Pennant Group, Inc. (NASDAQ:PNTG) shares traded down 4.5% on Wednesday . The stock traded as low as $30.48 and last traded at $30.72. 1,021 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 111,808 shares. The stock had previously closed at $32.17.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of The Pennant Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 17th. Truist Securities decreased their price objective on shares of The Pennant Group from $44.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, August 11th. Truist decreased their price objective on shares of The Pennant Group from $44.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, August 11th. Finally, Royal Bank of Canada decreased their price objective on shares of The Pennant Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, The Pennant Group currently has a consensus rating of “Hold” and a consensus price target of $48.80.

The business’s fifty day moving average is $32.61 and its two-hundred day moving average is $38.71. The company has a market cap of $859.65 million, a P/E ratio of 80.43 and a beta of 2.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.89 and a current ratio of 0.89.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Monday, August 9th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The Pennant Group had a net margin of 2.85% and a return on equity of 17.47%. Analysts expect that The Pennant Group, Inc. will post 0.66 EPS for the current fiscal year.

In other news, CEO Daniel H. Walker sold 20,000 shares of The Pennant Group stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $42.03, for a total value of $840,600.00. Following the transaction, the chief executive officer now owns 1,193,691 shares of the company’s stock, valued at approximately $50,170,832.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel H. Walker sold 5,100 shares of the business’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $44.03, for a total transaction of $224,553.00. Following the sale, the chief executive officer now directly owns 1,193,691 shares in the company, valued at approximately $52,558,214.73. The disclosure for this sale can be found here. Insiders own 10.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its position in The Pennant Group by 1,696.7% during the 1st quarter. Captrust Financial Advisors now owns 539 shares of the company’s stock worth $25,000 after purchasing an additional 509 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of The Pennant Group in the 1st quarter valued at $28,000. Fifth Third Bancorp boosted its holdings in shares of The Pennant Group by 32.5% in the 1st quarter. Fifth Third Bancorp now owns 1,235 shares of the company’s stock valued at $57,000 after acquiring an additional 303 shares during the last quarter. Sageworth Trust Co purchased a new stake in shares of The Pennant Group in the 1st quarter valued at $69,000. Finally, SG Americas Securities LLC purchased a new stake in shares of The Pennant Group in the 1st quarter valued at $158,000. 87.92% of the stock is currently owned by institutional investors.

About The Pennant Group (NASDAQ:PNTG)

The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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.

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