The Pennant Group (NASDAQ:PNTG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of The Pennant Group (NASDAQ:PNTG) from a hold rating to a buy rating in a report released on Saturday.

A number of other analysts also recently commented on PNTG. Truist Financial boosted their price target on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group Trading Down 3.7%

Shares of NASDAQ:PNTG opened at $35.55 on Friday. The company has a market cap of $1.24 billion, a PE ratio of 41.82, a P/E/G ratio of 2.43 and a beta of 1.28. The company’s 50-day moving average price is $31.92 and its 200 day moving average price is $29.88. The Pennant Group has a fifty-two week low of $21.73 and a fifty-two week high of $37.54. 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 released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping 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 company had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. Sell-side analysts anticipate that The Pennant Group will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

Several hedge funds have recently made changes to their positions in PNTG. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 purchasing an additional 717 shares during the last quarter. Quarry LP acquired a new position in shares of The Pennant Group in the 3rd quarter worth approximately $37,000. Parallel Advisors LLC grew its stake in shares of The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after purchasing an additional 1,258 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of The Pennant Group in the 3rd quarter worth approximately $54,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of The Pennant Group by 651.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after purchasing an additional 2,946 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

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.