The Pennant Group (NASDAQ:PNTG) Shares Up 4.5% – What’s Next?

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) shot up 4.5% during mid-day trading on Friday . The stock traded as high as $31.62 and last traded at $31.47. 43,002 shares changed hands during trading, a decline of 84% from the average session volume of 274,448 shares. The stock had previously closed at $30.12.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNTG. Royal Bank Of Canada raised their price objective on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Truist Financial raised their price objective on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wells Fargo & Company raised their price target on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $32.06 and a 200-day moving average of $30.75. The stock has a market cap of $1.10 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 2.13 and a beta of 1.29.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The firm had revenue of $285.36 million for the quarter, compared to analyst estimates of $280.75 million. On average, equities analysts forecast that The Pennant Group, Inc. will post 1.14 EPS for the current year.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in The Pennant Group by 154.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after purchasing an additional 717 shares during the period. Quarry LP acquired a new stake in shares of The Pennant Group in the 3rd quarter valued at approximately $37,000. Parallel Advisors LLC lifted its holdings in shares of The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after buying an additional 1,258 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of The Pennant Group by 651.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after buying an additional 2,946 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of The Pennant Group by 608.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock valued at $90,000 after buying an additional 2,733 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.