The Pennant Group (NASDAQ:PNTG) Trading Up 4.5% – Should You Buy?

The Pennant Group, Inc. (NASDAQ:PNTG)’s share price shot up 4.5% on Friday . The company traded as high as $31.62 and last traded at $31.47. 43,002 shares changed hands during trading, a decline of 84% from the average session volume of 274,448 shares. The stock had previously closed at $30.12.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNTG. Truist Financial lifted their price objective on shares of The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their target price on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company lifted their price target on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Trading Up 6.0%

The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The business has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $30.75.

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

Institutional Trading of The Pennant Group

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in The Pennant Group by 3.9% during the 4th quarter. SG Americas Securities LLC now owns 15,926 shares of the company’s stock worth $448,000 after buying an additional 600 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in The Pennant Group by 154.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock valued at $33,000 after acquiring an additional 717 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of The Pennant Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after acquiring an additional 857 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of The Pennant Group by 1,186.8% during the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of The Pennant Group by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,400 shares of the company’s stock worth $370,000 after purchasing an additional 1,263 shares during the period. 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.