The Pennant Group, Inc. (NASDAQ:PNTG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $39.00.

PNTG has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Weiss Ratings downgraded shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Wells Fargo & Company increased 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. Finally, Truist Financial increased their price objective on shares of The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, May 8th.

Institutional Investors Weigh In On The Pennant Group

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of The Pennant Group by 3.9% during the 4th quarter. SG Americas Securities LLC now owns 15,926 shares of the company’s stock worth $448,000 after purchasing an additional 600 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock worth $488,000 after purchasing an additional 857 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after purchasing an additional 1,258 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of The Pennant Group by 11.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,400 shares of the company’s stock worth $370,000 after purchasing an additional 1,263 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

Shares of PNTG opened at $36.34 on Tuesday. The company has a 50-day simple moving average of $33.13 and a 200-day simple moving average of $31.46. 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 company has a market capitalization of $1.26 billion, a PE ratio of 42.75, a P/E/G ratio of 2.41 and a beta of 1.29. The Pennant Group has a 52-week low of $21.73 and a 52-week high of $37.54.

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

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.