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

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) reached a new 52-week high on Monday . The company traded as high as $42.47 and last traded at $42.3430, with a volume of 259773 shares traded. The stock had previously closed at $41.95.

Analyst Upgrades and Downgrades

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

The Pennant Group Stock Up 0.9%

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 company’s fifty day moving average price is $35.45 and its 200-day moving average price is $32.46. The stock has a market capitalization of $1.47 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 2.82 and a beta of 1.25.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. Analysts forecast that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of The Pennant Group by 288.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock valued at $3,297,000 after buying an additional 97,061 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of The Pennant Group by 317.4% in the third quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock worth $5,226,000 after acquiring an additional 157,574 shares during the period. Vanguard Group Inc. increased its position in The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock valued at $57,707,000 after acquiring an additional 82,071 shares during the last quarter. Rice Hall James & Associates LLC increased its position in The Pennant Group by 14.2% during the fourth quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company’s stock valued at $7,249,000 after acquiring an additional 31,932 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock valued at $43,242,000 after acquiring an additional 835,227 shares during the period. 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.