Insider Selling: The Pennant Group, Inc. (NASDAQ:PNTG) Director Sells 2,818 Shares of Stock
The Pennant Group, Inc. (NASDAQ:PNTG – Get Rating) Director Christopher R. Christensen sold 2,818 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $16.20, for a total value of $45,651.60. Following the completion of the sale, the director now directly owns 152,405 shares of the company’s stock, valued at approximately $2,468,961. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NASDAQ:PNTG traded up $0.05 during mid-day trading on Tuesday, reaching $15.20. 162,799 shares of the company’s stock traded hands, compared to its average volume of 165,655. The Pennant Group, Inc. has a 12-month low of $11.38 and a 12-month high of $44.23. The firm has a market capitalization of $433.72 million, a price-to-earnings ratio of 189.38 and a beta of 2.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.19 and a quick ratio of 1.19. The company has a 50 day moving average price of $17.21 and a 200-day moving average price of $17.67.
The Pennant Group (NASDAQ:PNTG – Get Rating) last posted its earnings results on Monday, May 9th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The Pennant Group had a return on equity of 6.03% and a net margin of 0.62%. The firm had revenue of $113.91 million for the quarter, compared to the consensus estimate of $109.40 million. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, analysts forecast that The Pennant Group, Inc. will post 0.4 EPS for the current year.
A number of equities research analysts have recently weighed in on PNTG shares. Stifel Nicolaus lowered The Pennant Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $18.00 in a research note on Tuesday, March 1st. Truist Financial boosted their target price on The Pennant Group from $17.00 to $20.00 in a research note on Thursday, April 7th. Royal Bank of Canada reduced their price target on The Pennant Group from $37.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, March 10th. Finally, Stephens reduced their price target on The Pennant Group from $33.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd.
Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of The Pennant Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,177,138 shares of the company’s stock worth $77,819,000 after acquiring an additional 34,633 shares during the period. Riverbridge Partners LLC grew its holdings in shares of The Pennant Group by 14.6% during the 1st quarter. Riverbridge Partners LLC now owns 1,459,014 shares of the company’s stock worth $27,181,000 after acquiring an additional 185,521 shares during the period. State Street Corp grew its holdings in shares of The Pennant Group by 5.4% during the 1st quarter. State Street Corp now owns 950,775 shares of the company’s stock worth $17,713,000 after acquiring an additional 48,527 shares during the period. Wellington Management Group LLP grew its holdings in shares of The Pennant Group by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 556,550 shares of the company’s stock worth $10,369,000 after acquiring an additional 128,548 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of The Pennant Group by 10.8% during the 1st quarter. Invesco Ltd. now owns 542,900 shares of the company’s stock worth $10,115,000 after acquiring an additional 52,985 shares during the period. Hedge funds and other institutional investors own 88.84% of the company’s stock.
About The Pennant Group (Get Rating)
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.
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