Insider Selling: The Pennant Group, Inc. (NASDAQ:PNTG) Director Sells 380 Shares of Stock

The Pennant Group, Inc. (NASDAQ:PNTG) Director Joanne Stringfield sold 380 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $33.56, for a total value of $12,752.80. Following the sale, the director now owns 27,805 shares of the company’s stock, valued at approximately $933,135.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The Pennant Group Price Performance

PNTG traded up $0.22 during trading on Friday, hitting $33.53. 176,169 shares of the stock traded hands, compared to its average volume of 195,208. The Pennant Group, Inc. has a twelve month low of $10.46 and a twelve month high of $37.13. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 63.09, a PEG ratio of 3.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day moving average price of $33.90 and a 200 day moving average price of $27.49.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The business had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. Equities research analysts forecast that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PNTG has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial boosted their price target on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Oppenheimer boosted their price target on The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a research note on Wednesday, October 9th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PNTG. Principal Financial Group Inc. acquired a new position in shares of The Pennant Group during the first quarter worth $197,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The Pennant Group by 101.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock worth $450,000 after buying an additional 11,536 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of The Pennant Group by 14.9% during the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock worth $1,724,000 after buying an additional 11,359 shares in the last quarter. Sei Investments Co. increased its holdings in shares of The Pennant Group by 679.7% during the first quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after buying an additional 118,581 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of The Pennant Group during the first quarter worth $279,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.