The Pennant Group, Inc. (NASDAQ:PNTG) COO John J. Gochnour Purchases 1,232 Shares of Stock

Posted by Defense World Staff on May 16th, 2023

The Pennant Group, Inc. (NASDAQ:PNTG – Get Rating) COO John J. Gochnour purchased 1,232 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $11.04 per share, with a total value of $13,601.28. Following the completion of the acquisition, the chief operating officer now owns 73,982 shares in the company, valued at approximately $816,761.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $12.17 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.02. The Pennant Group, Inc. has a one year low of $8.68 and a one year high of $19.48. The company’s 50-day simple moving average is $13.02 and its 200-day simple moving average is $12.11. The stock has a market capitalization of $361.94 million, a price-to-earnings ratio of 48.68, a PEG ratio of 1.54 and a beta of 2.08.

The Pennant Group (NASDAQ:PNTG – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The Pennant Group had a net margin of 1.54% and a return on equity of 13.16%. The business had revenue of $124.67 million for the quarter, compared to analysts’ expectations of $117.60 million. Equities analysts anticipate that The Pennant Group, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PNTG shares. VNET Group reiterated a “maintains” rating on shares of The Pennant Group in a report on Tuesday, May 9th. Royal Bank of Canada lowered their price target on The Pennant Group from $18.00 to $14.00 in a report on Tuesday, May 9th. Truist Financial upped their price objective on shares of The Pennant Group from $12.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, February 27th. Stifel Nicolaus raised shares of The Pennant Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $15.00 to $16.00 in a research report on Monday, February 27th. Finally, TheStreet raised shares of The Pennant Group from a “d+” rating to a “c” rating in a research report on Tuesday, March 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, The Pennant Group has an average rating of “Moderate Buy” and an average price target of $16.20.

Institutional Investors Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in The Pennant Group by 3.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,370,782 shares of the company’s stock worth $55,990,000 after acquiring an additional 143,803 shares during the period. BlackRock Inc. increased its stake in shares of The Pennant Group by 1.2% in the third quarter. BlackRock Inc. now owns 4,314,002 shares of the company’s stock valued at $44,910,000 after purchasing an additional 50,380 shares during the period. Vanguard Group Inc. increased its stake in shares of The Pennant Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 2,493,251 shares of the company’s stock valued at $25,955,000 after purchasing an additional 43,886 shares during the period. State Street Corp increased its stake in shares of The Pennant Group by 5.4% during the first quarter. State Street Corp now owns 950,775 shares of the company’s stock valued at $17,713,000 after acquiring an additional 48,527 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of The Pennant Group by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 892,230 shares of the company’s stock valued at $12,741,000 after acquiring an additional 19,764 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

The Pennant Group Company Profile

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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.