The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High – Still a Buy?

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $40.00 and last traded at $39.91, with a volume of 493252 shares traded. The stock had previously closed at $38.52.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNTG shares. Truist Financial boosted 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. Wells Fargo & Company raised their price objective 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. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Royal Bank Of Canada increased their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Stock Performance

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average is $33.78 and its 200 day moving average is $31.69.

The Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings data 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 firm had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. Analysts anticipate that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently modified their holdings of PNTG. Caitong International Asset Management Co. Ltd grew its stake in shares of The Pennant Group by 154.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock valued at $33,000 after acquiring an additional 717 shares in the last quarter. Quarry LP bought a new stake in The Pennant Group in the 3rd quarter valued at about $37,000. Parallel Advisors LLC boosted its holdings in 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 purchasing an additional 1,258 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of The Pennant Group by 651.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after purchasing an additional 2,946 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of The Pennant Group by 608.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after purchasing an additional 2,733 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.