The Pennant Group (NASDAQ:PNTG) Announces Earnings Results, Beats Estimates By $0.01 EPS

The Pennant Group (NASDAQ:PNTG) released its earnings results on Wednesday. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, FiscalAI reports. The Pennant Group had a return on equity of 10.35% and a net margin of 2.96%.The company had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million.

The Pennant Group Trading Down 0.2%

Shares of The Pennant Group stock traded down $0.06 during mid-day trading on Friday, hitting $35.67. 166,358 shares of the stock were exchanged, compared to its average volume of 274,441. The Pennant Group has a twelve month low of $21.73 and a twelve month high of $37.54. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 41.95, a price-to-earnings-growth ratio of 2.22 and a beta of 1.28. The company has a 50-day simple moving average of $31.60 and a 200 day simple moving average of $29.45. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wall Street Zen downgraded The Pennant Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial boosted their price objective on shares of The Pennant Group from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their price objective on shares of The Pennant Group from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company increased their target price on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average target price of $37.60.

Hedge Funds Weigh In On The Pennant Group

Several institutional investors and hedge funds have recently modified their holdings of PNTG. Ophir Asset Management Pty Ltd boosted its position in The Pennant Group by 24.1% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company’s stock worth $37,351,000 after acquiring an additional 257,840 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of The Pennant Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 820,048 shares of the company’s stock worth $23,089,000 after purchasing an additional 3,875 shares during the period. Wellington Management Group LLP lifted its stake in shares of The Pennant Group by 71.1% during the 4th quarter. Wellington Management Group LLP now owns 817,914 shares of the company’s stock worth $23,024,000 after purchasing an additional 339,870 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of The Pennant Group by 8.2% during the third quarter. Dimensional Fund Advisors LP now owns 805,992 shares of the company’s stock worth $20,327,000 after purchasing an additional 60,784 shares during the last quarter. Finally, Nuveen LLC grew its position in shares of The Pennant Group by 2.4% in the fourth quarter. Nuveen LLC now owns 722,407 shares of the company’s stock valued at $20,336,000 after purchasing an additional 16,669 shares during the period. Hedge funds and other institutional investors 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.