The Pennant Group (NASDAQ:PNTG) Upgraded to “Buy” at Wall Street Zen

The Pennant Group (NASDAQ:PNTG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company raised their target price on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Truist Financial increased their price target on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Royal Bank Of Canada raised their price objective on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Price Performance

PNTG stock opened at $33.44 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 39.34, a P/E/G ratio of 2.25 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s fifty day moving average is $32.62 and its 200 day moving average is $31.18. The Pennant Group has a one year low of $21.73 and a one year high of $37.54.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $285.36 million during the quarter, compared to analysts’ expectations 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 forecast that The Pennant Group will post 1.14 EPS for the current year.

Institutional Trading of The Pennant Group

A number of institutional investors and hedge funds have recently modified their holdings of PNTG. JPMorgan Chase & Co. lifted its stake in The Pennant Group by 288.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock valued at $3,297,000 after buying an additional 97,061 shares in the last quarter. Quantbot Technologies LP boosted its holdings in The Pennant Group by 104.1% in the 3rd quarter. Quantbot Technologies LP now owns 38,435 shares of the company’s stock worth $969,000 after buying an additional 19,606 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in The Pennant Group by 317.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock worth $5,226,000 after buying an additional 157,574 shares in the last quarter. Provident Investment Management Inc. purchased a new stake in The Pennant Group during the 3rd quarter worth approximately $6,685,000. Finally, Algert Global LLC raised its holdings in shares of The Pennant Group by 392.5% during the third quarter. Algert Global LLC now owns 421,702 shares of the company’s stock valued at $10,635,000 after acquiring an additional 336,072 shares during the last quarter. Hedge funds and other institutional investors 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.