The Pennant Group (NASDAQ:PNTG) Announces Earnings Results

The Pennant Group (NASDAQ:PNTG) announced its quarterly earnings results on Wednesday. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, FiscalAI reports. The business had revenue of $285.36 million during the quarter, compared to analyst estimates of $280.75 million. The Pennant Group had a net margin of 3.12% and a return on equity of 10.10%.

The Pennant Group Stock Performance

NASDAQ PNTG traded up $1.07 during trading on Wednesday, hitting $32.53. 466,297 shares of the company’s stock traded hands, compared to its average volume of 272,442. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.13 and a beta of 1.28. The Pennant Group has a 12-month low of $21.73 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50 day moving average of $31.53 and a 200-day moving average of $29.31.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNTG. Zacks Research lowered shares of The Pennant Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Truist Financial increased their price target on shares of The Pennant Group from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their price target on shares of The Pennant Group from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Wells Fargo & Company increased their price target on shares of The Pennant Group from $31.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On The Pennant Group

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in The Pennant Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after purchasing an additional 857 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in The Pennant Group by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,400 shares of the company’s stock valued at $370,000 after purchasing an additional 1,263 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in The Pennant Group by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,749 shares of the company’s stock valued at $1,176,000 after purchasing an additional 1,282 shares during the last quarter. Swiss National Bank lifted its holdings in The Pennant Group by 2.1% during the fourth quarter. Swiss National Bank now owns 68,200 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Quarry LP purchased a new stake in The Pennant Group during the third quarter valued at about $37,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.