The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High – Time to Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.29 and last traded at $31.7950, with a volume of 22899 shares trading hands. The stock had previously closed at $31.61.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNTG. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of The Pennant Group in a research note on Friday, December 19th. William Blair assumed coverage on shares of The Pennant Group in a research note on Monday, December 8th. They issued an “outperform” rating for the company. Zacks Research cut The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of The Pennant Group in a report on Monday, December 29th. Finally, Wells Fargo & Company upped their price objective on The Pennant Group from $31.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

The Pennant Group Stock Down 1.5%

The firm’s 50 day simple moving average is $29.19 and its 200-day simple moving average is $26.47. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of The Pennant Group during the 3rd quarter worth approximately $37,000. State of Alaska Department of Revenue bought a new position in shares of The Pennant Group in the third quarter valued at $54,000. CIBC Private Wealth Group LLC raised its position in 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in The Pennant Group by 161.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock valued at $119,000 after acquiring an additional 2,463 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in The Pennant Group in the third quarter valued at $137,000. 85.88% of the stock is currently owned by 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.