The Pennant Group (NASDAQ:PNTG) Reaches New 1-Year High – Time to Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.00 and last traded at $37.38, with a volume of 16429 shares changing hands. The stock had previously closed at $36.95.

Wall Street Analysts Forecast Growth

PNTG has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of 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 lifted their target price on shares of The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Royal Bank Of Canada increased their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

The Pennant Group Stock Up 2.7%

The stock has a 50-day moving average of $33.25 and a two-hundred day moving average of $31.51. The company has a market cap of $1.32 billion, a P/E ratio of 44.62, a P/E/G ratio of 2.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results 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 business had revenue of $285.36 million during the quarter, compared to analyst estimates of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, research analysts anticipate that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in The Pennant Group by 288.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock worth $3,297,000 after buying an additional 97,061 shares during the period. Quantbot Technologies LP raised its holdings in The Pennant Group by 104.1% in the 3rd quarter. Quantbot Technologies LP now owns 38,435 shares of the company’s stock worth $969,000 after purchasing an additional 19,606 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of The Pennant Group by 317.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock valued at $5,226,000 after purchasing an additional 157,574 shares in the last quarter. Provident Investment Management Inc. purchased a new position in shares of The Pennant Group during the third quarter valued at about $6,685,000. Finally, Algert Global LLC raised its stake in The Pennant Group by 392.5% in the third quarter. Algert Global LLC now owns 421,702 shares of the company’s stock worth $10,635,000 after buying an additional 336,072 shares in the last quarter. Institutional investors 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.