The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High – Here’s Why

The Pennant Group, Inc. (NASDAQ:PNTG) hit a new 52-week high during trading on Tuesday . The company traded as high as $40.00 and last traded at $39.91, with a volume of 493252 shares trading hands. The stock had previously closed at $38.52.

Analyst Ratings Changes

A number of equities analysts have issued reports on PNTG shares. 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. Truist Financial increased their price target on shares of The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Royal Bank Of Canada lifted their price objective on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price objective on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Stock Down 1.3%

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 firm has a market cap of $1.36 billion, a PE ratio of 46.12, a P/E/G ratio of 2.67 and a beta of 1.25. The firm’s 50 day moving average is $34.34 and its 200-day moving average is $31.91.

The Pennant Group (NASDAQ:PNTG) last announced 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 firm had revenue of $285.36 million for the quarter, compared to analyst estimates of $280.75 million. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. As a group, equities research analysts expect that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

Institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 717 shares during the last quarter. Quarry LP purchased a new stake in The Pennant Group in the 3rd quarter valued at about $37,000. Parallel Advisors LLC increased its stake in shares of The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after acquiring an additional 403 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of The Pennant Group by 651.8% during the 3rd 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 period. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.