The Pennant Group (NASDAQ:PNTG) Rating Lowered to “Hold” at Wall Street Zen

The Pennant Group (NASDAQ:PNTG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other brokerages have also recently issued reports on PNTG. Wells Fargo & Company lowered their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Truist Financial lowered their target price on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, July 16th. Finally, Stephens restated an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and an average target price of $34.40.

The Pennant Group Trading Up 3.5%

Shares of PNTG stock opened at $25.40 on Friday. The company’s fifty day simple moving average is $24.29 and its two-hundred day simple moving average is $25.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21. The Pennant Group has a 1 year low of $21.18 and a 1 year high of $36.20. The stock has a market capitalization of $877.82 million, a price-to-earnings ratio of 32.56, a PEG ratio of 2.09 and a beta of 1.31.

Institutional Trading of The Pennant Group

A number of institutional investors have recently modified their holdings of the company. Versor Investments LP raised its stake 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 buying an additional 700 shares in the last quarter. Quantum Portfolio Management LLC increased its stake in shares of The Pennant Group by 4.7% during the second quarter. Quantum Portfolio Management LLC now owns 16,049 shares of the company’s stock valued at $479,000 after purchasing an additional 721 shares in the last quarter. Intech Investment Management LLC increased its position in shares of The Pennant Group by 4.8% during the second quarter. Intech Investment Management LLC now owns 17,800 shares of the company’s stock valued at $531,000 after acquiring an additional 822 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of The Pennant Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after acquiring an additional 857 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of The Pennant Group by 13.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,922 shares of the company’s stock valued at $236,000 after acquiring an additional 953 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Company Profile

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.