The Pennant Group (NASDAQ:PNTG) Reaches New 1-Year High – Should You Buy?

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $38.00 and last traded at $37.38, with a volume of 16429 shares changing hands. The stock had previously closed at $36.95.

Analysts Set New Price Targets

PNTG has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Truist Financial boosted their price target on The Pennant Group from $36.00 to $42.00 and gave the company 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 research note on Wednesday. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Royal Bank Of Canada lifted their price objective on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Price Performance

The company’s 50-day moving average is $33.60 and its 200-day moving average is $31.63. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 2.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNTG. Vanguard Group Inc. increased its stake in The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after acquiring an additional 82,071 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its stake in shares of The Pennant Group by 12,075.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock valued at $48,244,000 after purchasing an additional 1,569,823 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of The Pennant Group by 143.2% during the 1st quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock worth $43,242,000 after purchasing an additional 835,227 shares during the period. Ophir Asset Management Pty Ltd grew its holdings in shares of The Pennant Group by 24.1% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company’s stock worth $37,351,000 after purchasing an additional 257,840 shares during the period. Finally, Geode Capital Management LLC increased its position in The Pennant Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 820,048 shares of the company’s stock worth $23,089,000 after purchasing an additional 3,875 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Company Profile

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.