The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High on Analyst Upgrade

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $42.00 to $48.00. Truist Financial currently has a buy rating on the stock. The Pennant Group traded as high as $41.61 and last traded at $40.9150, with a volume of 285427 shares trading hands. The stock had previously closed at $40.50.

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

Institutional Investors Weigh In On The Pennant Group

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its stake in shares of The Pennant Group by 154.2% during 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 during the last quarter. Quarry LP bought a new stake in shares of The Pennant Group in the third quarter worth $37,000. Parallel Advisors LLC increased its holdings in The Pennant Group by 1,186.8% in the first 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. GAMMA Investing LLC increased its stake in shares of The Pennant Group by 34.6% in the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after buying an additional 403 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after acquiring an additional 2,946 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

The stock has a 50 day moving average of $35.06 and a 200 day moving average of $32.21. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 46.78, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. 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 Pennant Group (NASDAQ:PNTG) last released its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating 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 the consensus estimate of $280.75 million. As a group, analysts predict that The Pennant Group, Inc. will post 1.14 EPS for the current 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.