The Pennant Group (NASDAQ:PNTG) Stock Price Up 4.9% – Here’s What Happened

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price was up 4.9% during mid-day trading on Monday . The company traded as high as $29.24 and last traded at $29.05. Approximately 98,275 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 262,918 shares. The stock had previously closed at $27.70.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PNTG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Pennant Group in a report on Monday. Jefferies Financial Group initiated coverage on The Pennant Group in a research note on Friday, October 24th. They issued a “buy” rating and a $30.00 target price for the company. Stephens reiterated an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Finally, Royal Bank Of Canada boosted their target price on The Pennant Group from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.80.

The Pennant Group Trading Down 1.5%

The firm has a market cap of $997.58 million, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.30 and a beta of 1.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day simple moving average of $25.43 and a two-hundred day simple moving average of $25.72.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The Pennant Group had a net margin of 3.15% and a return on equity of 9.37%. The firm had revenue of $229.04 million during the quarter, compared to analyst estimates of $221.96 million. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. As a group, sell-side analysts anticipate that The Pennant Group, Inc. will post 0.75 EPS for the current year.

Institutional Trading of The Pennant Group

Several institutional investors and hedge funds have recently made changes to their positions in PNTG. Versor Investments LP raised its holdings in The Pennant Group by 6.2% in the first quarter. Versor Investments LP now owns 12,000 shares of the company’s stock worth $302,000 after purchasing an additional 700 shares in the last quarter. Quantum Portfolio Management LLC grew its holdings in The Pennant Group by 4.7% in the second quarter. Quantum Portfolio Management LLC now owns 16,049 shares of the company’s stock worth $479,000 after purchasing an additional 721 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of The Pennant Group by 4.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,800 shares of the company’s stock valued at $531,000 after purchasing an additional 822 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of The Pennant Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock worth $488,000 after purchasing an additional 857 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of The Pennant Group by 13.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,922 shares of the company’s stock valued at $236,000 after purchasing an additional 953 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.