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

Key Points

• The Pennant Group hit a new 52-week high, trading as high as $41.61 after closing at $40.50 the prior session, and was last up about 1.4% on the day.
• Analysts have turned increasingly positive: several firms raised price targets to $41-$42, and the stock now has a Moderate Buy consensus with seven Buy ratings and one Hold.
• The company’s latest earnings beat expectations, reporting $0.32 EPS versus $0.31 expected and revenue of $285.36 million, while institutional investors continue to hold a large majority of shares.

The Pennant Group, Inc. (NASDAQ:PNTG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.61 and last traded at $40.9150, with a volume of 285427 shares traded. The stock had previously closed at $40.50.

Analysts Set New Price Targets

A number of research analysts have commented on PNTG shares. Truist Financial upped their price target on The Pennant Group from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Wells Fargo & Company upped their target price on The Pennant Group from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Weiss Ratings raised The Pennant Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of The Pennant Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

The Pennant Group Trading Up 1.4%

The firm has a market cap of $1.43 billion, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The stock has a fifty day simple moving average of $34.73 and a 200 day simple moving average of $32.06. 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 Pennant Group (NASDAQ:PNTG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. On average, research analysts expect that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of The Pennant Group

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of The Pennant Group by 154.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company's stock valued at $33,000 after purchasing an additional 717 shares during the last quarter. Quarry LP bought a new position in shares of The Pennant Group during the 3rd quarter valued at $37,000. Parallel Advisors LLC boosted its stake 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 worth $42,000 after buying an additional 1,258 shares during the last quarter. GAMMA Investing LLC boosted 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 during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of The Pennant Group by 651.8% in the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company's stock worth $86,000 after acquiring an additional 2,946 shares during the period. 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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