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

The Pennant Group (NASDAQ:PNTG) released its earnings results on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01, FiscalAI reports. The Pennant Group had a return on equity of 10.10% and a net margin of 3.12%.The firm had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million.

The Pennant Group Stock Performance

PNTG traded up $1.07 during midday trading on Wednesday, hitting $32.53. 466,297 shares of the company were exchanged, compared to its average volume of 182,015. The company’s 50 day simple moving average is $31.53 and its 200 day simple moving average is $29.31. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.15 and a beta of 1.28. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45. The Pennant Group has a 1-year low of $21.73 and a 1-year high of $35.00.

Analysts Set New Price Targets

PNTG has been the topic of several research reports. Wall Street Zen downgraded The Pennant Group from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial upped their target price on The Pennant Group from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Zacks Research downgraded The Pennant Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company upped their target price on The Pennant Group from $31.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On The Pennant Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in The Pennant Group during the 3rd quarter worth about $37,000. CIBC Private Wealth Group LLC lifted its stake in The Pennant Group by 651.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after buying an additional 2,946 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in The Pennant Group by 608.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock valued at $90,000 after buying an additional 2,733 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in The Pennant Group by 161.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock valued at $119,000 after buying an additional 2,463 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in The Pennant Group in the 3rd quarter valued at about $209,000. 85.88% of the stock is owned by institutional investors and hedge funds.

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.