The Pennant Group (NASDAQ:PNTG) Sets New 52-Week High - Should You Buy?

Key Points

• The Pennant Group shares reached a new 52-week high of $42.69, trading near $42.52 and well above their 50-day and 200-day moving averages.
• Analyst sentiment is generally positive: six analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus. However, the average price target of $41.00 is below the current trading price, despite several firms recently raising their targets.
• The company exceeded quarterly expectations, reporting $0.32 EPS versus the $0.31 consensus and revenue of $285.36 million versus $280.75 million. Institutional investors own a substantial 85.88% of the shares.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.69 and last traded at $42.52, with a volume of 85285 shares trading hands. The stock had previously closed at $41.34.

Analyst Ratings Changes

A number of research firms recently commented on PNTG. Truist Financial boosted their price target on The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Royal Bank Of Canada boosted their target price on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Finally, Weiss Ratings cut shares of The Pennant Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.00.

The Pennant Group Stock Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of 49.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The business has a 50 day moving average of $36.10 and a 200 day moving average of $33.00. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The business had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, sell-side analysts predict that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of The Pennant Group by 34.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company's stock worth $58,000 after buying an additional 403 shares in the last quarter. SG Americas Securities LLC raised its position in shares of The Pennant Group by 3.9% during the 4th quarter. SG Americas Securities LLC now owns 15,926 shares of the company's stock valued at $448,000 after buying an additional 600 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 valued at $33,000 after buying an additional 717 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock valued at $488,000 after buying an additional 857 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings 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 valued at $42,000 after acquiring an additional 1,258 shares during the last quarter. Hedge funds and other 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.

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