The Pennant Group (NASDAQ:PNTG) Sets New 52-Week High – Here’s Why

The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high during trading on Monday . The company traded as high as $42.47 and last traded at $42.3430, with a volume of 259773 shares changing hands. The stock had previously closed at $41.95.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PNTG shares. Wells Fargo & Company boosted their price target on shares of The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Truist Financial boosted their price objective on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upped their target price on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.00.

The Pennant Group Trading Up 0.8%

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 stock has a market cap of $1.44 billion, a price-to-earnings ratio of 48.79, a P/E/G ratio of 2.76 and a beta of 1.25. The company’s fifty day moving average price is $35.72 and its 200-day moving average price is $32.65.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $285.36 million during the quarter, compared to analysts’ expectations of $280.75 million. On average, research analysts expect that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. GAMMA Investing LLC boosted its position in The Pennant Group by 34.6% during the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after purchasing an additional 403 shares in the last quarter. SG Americas Securities LLC increased its position in shares of The Pennant Group by 3.9% in the fourth quarter. SG Americas Securities LLC now owns 15,926 shares of the company’s stock valued at $448,000 after buying an additional 600 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 buying an additional 717 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 857 shares during the period. Finally, Parallel Advisors LLC lifted its position 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 valued at $42,000 after buying an additional 1,258 shares in the last quarter. Institutional investors and hedge funds 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.