The Pennant Group (NASDAQ:PNTG) Downgraded by Wall Street Zen to Hold

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

PNTG has been the subject of several other reports. Wells Fargo & Company decreased their price objective on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, August 14th. Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a report on Thursday. Finally, Truist Financial decreased their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, The Pennant Group presently has an average rating of “Moderate Buy” and an average target price of $34.40.

The Pennant Group Stock Up 0.9%

Shares of NASDAQ PNTG opened at $24.29 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group has a 12 month low of $21.18 and a 12 month high of $37.13. The firm has a market capitalization of $839.46 million, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. The firm has a fifty day simple moving average of $24.54 and a two-hundred day simple moving average of $25.73.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. 8 Knots Management LLC increased its stake in shares of The Pennant Group by 23.9% in the 1st quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock worth $75,803,000 after acquiring an additional 581,313 shares in the last quarter. Van Berkom & Associates Inc. grew its position in The Pennant Group by 29.6% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company’s stock valued at $71,666,000 after purchasing an additional 651,346 shares during the last quarter. Ophir Asset Management Pty Ltd grew its position in The Pennant Group by 403.9% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock valued at $31,305,000 after purchasing an additional 840,642 shares during the last quarter. Paradigm Capital Management Inc. NY grew its position in The Pennant Group by 1.7% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 955,000 shares of the company’s stock valued at $24,018,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in The Pennant Group by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 832,481 shares of the company’s stock valued at $24,853,000 after purchasing an additional 36,357 shares during the last quarter. 85.88% of the stock is currently 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.