Bank of New York Mellon Corp Makes New Investment in The Pennant Group, Inc. $PNTG

Key Points

• Bank of New York Mellon bought 114,332 shares of The Pennant Group in the second quarter, valued at approximately $4.23 million and representing about 0.33% of the company. Institutional investors collectively own 85.88% of PNTG.
• Analyst sentiment remains positive: seven analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $41.60.
• The company reported quarterly EPS of $0.36, exceeding expectations of $0.33, while revenue reached $297.98 million versus the $288.71 million consensus estimate. PNTG opened at $38.00, with a 12-month range of $22.25 to $42.69.

Bank of New York Mellon Corp bought a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 114,332 shares of the company's stock, valued at approximately $4,225,000. Bank of New York Mellon Corp owned about 0.33% of The Pennant Group as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of The Pennant Group by 154.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company's stock worth $33,000 after buying an additional 717 shares during the period. Quarry LP acquired a new stake in shares of The Pennant Group in the 3rd quarter valued at approximately $37,000. Parallel Advisors LLC boosted its stake in The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company's stock worth $42,000 after acquiring an additional 1,258 shares during the last quarter. GAMMA Investing LLC boosted its stake in The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company's stock worth $58,000 after acquiring an additional 403 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company's stock valued at $86,000 after purchasing an additional 2,946 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNTG. Royal Bank Of Canada boosted their price target on shares of The Pennant Group from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, August 20th. Truist Financial lifted their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Wells Fargo & Company increased their price target on The Pennant Group from $45.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.60.

The Pennant Group Price Performance

NASDAQ PNTG opened at $38.00 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. The Pennant Group, Inc. has a 12-month low of $22.25 and a 12-month high of $42.69. The company has a market capitalization of $1.33 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27. The firm's 50 day moving average is $39.31 and its 200-day moving average is $34.89.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $297.98 million during the quarter, compared to analysts' expectations of $288.71 million. The Pennant Group had a net margin of 2.93% and a return on equity of 10.33%. The Pennant Group has set its FY 2026 guidance at 1.340-1.410 EPS. Equities research analysts anticipate that The Pennant Group, Inc. will post 1.18 earnings per share for the current fiscal year.

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.

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