The Pennant Group (NASDAQ:PNTG) Hits New 12-Month High – Should You Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.93 and last traded at $32.81, with a volume of 27447 shares trading hands. The stock had previously closed at $31.85.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Jefferies Financial Group began coverage on The Pennant Group in a research report on Friday, October 24th. They set a “buy” rating and a $30.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a report on Monday, December 29th. Zacks Research downgraded The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Truist Financial raised The Pennant Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

The Pennant Group Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $29.41 and its two-hundred day moving average price is $26.75. The stock has a market capitalization of $1.12 billion, a PE ratio of 43.13, a PEG ratio of 2.22 and a beta of 1.27.

Institutional Investors Weigh In On The Pennant Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in The Pennant Group during the third quarter valued at approximately $37,000. State of Alaska Department of Revenue purchased a new stake in shares of The Pennant Group in the 3rd quarter worth $54,000. CIBC Private Wealth Group LLC raised its holdings in The Pennant Group by 651.8% in 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 during the period. Quadrant Capital Group LLC lifted its position in The Pennant Group by 608.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock valued at $90,000 after purchasing an additional 2,733 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in The Pennant Group by 161.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock valued at $119,000 after purchasing an additional 2,463 shares in the last quarter. Hedge funds and other institutional investors 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.