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

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.69 and last traded at $42.52, with a volume of 85285 shares trading hands. The stock had previously closed at $41.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PNTG. Wells Fargo & Company lifted their target price on The Pennant Group from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Truist Financial increased their price target on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Weiss Ratings lowered shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada boosted their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

The Pennant Group Stock Up 1.6%

The company has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $33.00. The firm has a market cap of $1.46 billion, a PE ratio of 49.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19.

The Pennant Group (NASDAQ:PNTG) last released its 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 return on equity of 10.07% and a net margin of 2.96%.The firm had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. Analysts expect that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of The Pennant Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of The Pennant Group by 174.5% during the first quarter. Royal Bank of Canada now owns 27,290 shares of the company’s stock worth $687,000 after purchasing an additional 17,347 shares during the last quarter. AQR Capital Management LLC increased its stake in The Pennant Group by 32.6% in the 1st quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock worth $258,000 after buying an additional 2,524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after buying an additional 857 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in The Pennant Group by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock valued at $2,047,000 after buying an additional 3,507 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in The Pennant Group during the 1st quarter valued at about $297,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.