Wells Fargo & Company Cuts The Pennant Group (NASDAQ:PNTG) Price Target to $29.00

The Pennant Group (NASDAQ:PNTG) had its price objective cut by Wells Fargo & Company from $31.00 to $29.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on PNTG. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Stephens restated an “overweight” rating and set a $35.00 price target on shares of The Pennant Group in a research note on Tuesday, June 10th. Finally, Truist Financial dropped their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.40.

The Pennant Group Stock Up 2.3%

The Pennant Group stock opened at $25.26 on Thursday. The firm has a market cap of $872.99 million, a PE ratio of 32.38, a P/E/G ratio of 2.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s 50 day moving average price is $25.70 and its two-hundred day moving average price is $25.96. The Pennant Group has a twelve month low of $21.18 and a twelve month high of $37.13.

Insider Activity at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of the company’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 sale, the director directly owned 30,275 shares of the company’s stock, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of The Pennant Group

Large investors have recently modified their holdings of the company. Two Sigma Advisers LP boosted its holdings in shares of The Pennant Group by 144.8% during the 4th quarter. Two Sigma Advisers LP now owns 131,700 shares of the company’s stock worth $3,493,000 after buying an additional 77,900 shares during the period. SG Americas Securities LLC boosted its holdings in shares of The Pennant Group by 56.9% during the 1st quarter. SG Americas Securities LLC now owns 23,413 shares of the company’s stock worth $589,000 after buying an additional 8,490 shares during the period. GAMMA Investing LLC boosted its holdings in shares of The Pennant Group by 7,124.5% during the 1st quarter. GAMMA Investing LLC now owns 7,947 shares of the company’s stock worth $200,000 after buying an additional 7,837 shares during the period. Millennium Management LLC boosted its holdings in shares of The Pennant Group by 1,274.9% during the 4th quarter. Millennium Management LLC now owns 181,767 shares of the company’s stock worth $4,820,000 after buying an additional 168,547 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of The Pennant Group by 8.6% during the 1st quarter. Rhumbline Advisers now owns 47,423 shares of the company’s stock worth $1,193,000 after buying an additional 3,750 shares during the period. 85.88% of the stock is owned by 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.