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

The Pennant Group (NASDAQ:PNTG) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada raised their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Truist Financial raised their target price on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group Price Performance

The Pennant Group stock opened at $31.71 on Friday. The Pennant Group has a 12-month low of $21.73 and a 12-month high of $37.54. The stock has a market capitalization of $1.10 billion, a P/E ratio of 37.31, a P/E/G ratio of 2.02 and a beta of 1.29. The firm’s 50-day moving average is $32.06 and its two-hundred day moving average is $30.75. 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 released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. The company had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. Equities analysts predict that The Pennant Group will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

A number of institutional investors have recently bought and sold shares of PNTG. Turtle Creek Asset Management Inc. grew its holdings in The Pennant Group by 12,075.6% in the first 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 during the period. Wasatch Advisors LP grew its holdings in The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock valued at $43,242,000 after purchasing an additional 835,227 shares during the period. Ameriprise Financial Inc. purchased a new stake in The Pennant Group in the second quarter valued at approximately $14,356,000. Provident Investment Management Inc. grew its holdings in The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after purchasing an additional 426,797 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in The Pennant Group in the fourth quarter valued at approximately $11,023,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

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.