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

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price hit a new 52-week high on Monday . The stock traded as high as $41.61 and last traded at $40.9150, with a volume of 285427 shares changing hands. The stock had previously closed at $40.50.

Analysts Set New Price Targets

PNTG has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Royal Bank Of Canada increased their price target on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Truist Financial raised their price target on The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Stock Up 1.4%

The stock has a market capitalization of $1.43 billion, a P/E ratio of 48.18, a PEG ratio of 2.72 and a beta of 1.25. The company has a fifty day moving average price of $34.73 and a 200-day moving average price of $32.06. 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 Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. The firm had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. As a group, research analysts forecast that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNTG. Vanguard Group Inc. increased its position in shares of The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after acquiring an additional 82,071 shares during the period. Wasatch Advisors LP lifted its holdings in The Pennant Group by 31.8% during the second quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company’s stock worth $69,103,000 after buying an additional 451,491 shares during the period. Turtle Creek Asset Management Inc. boosted its position in The Pennant Group by 12,075.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock valued at $48,244,000 after acquiring an additional 1,569,823 shares in the last quarter. Ophir Asset Management Pty Ltd boosted its position in The Pennant Group by 24.1% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company’s stock valued at $37,351,000 after acquiring an additional 257,840 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in The Pennant Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 820,048 shares of the company’s stock valued at $23,089,000 after acquiring an additional 3,875 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Company Profile

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.