The Pennant Group (NASDAQ:PNTG) Stock Price Up 4.5% – What’s Next?

The Pennant Group, Inc. (NASDAQ:PNTG) shot up 4.5% on Friday . The stock traded as high as $31.62 and last traded at $31.47. 43,002 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 274,448 shares. The stock had previously closed at $30.12.

Analyst Ratings Changes

Several research firms recently issued reports on PNTG. 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. Truist Financial boosted their target price on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Wells Fargo & Company increased their price target 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, Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

The Pennant Group Trading Up 6.0%

The business’s 50 day moving average price is $32.04 and its 200-day moving average price is $30.75. 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 company has a market cap of $1.11 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.04 and a beta of 1.29.

The Pennant Group (NASDAQ:PNTG) last posted its 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 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, equities analysts anticipate that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Trading of The Pennant Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNTG. Caitong International Asset Management Co. Ltd raised its stake in The Pennant Group by 154.2% in 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 in the last quarter. Quarry LP acquired a new stake in The Pennant Group in the 3rd quarter worth about $37,000. Parallel Advisors LLC raised its stake 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 worth $42,000 after purchasing an additional 1,258 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake 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 in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in The Pennant Group by 608.7% in 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.

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.