The Pennant Group (NASDAQ:PNTG) Hits New 52-Week High After Earnings Beat

The Pennant Group, Inc. (NASDAQ:PNTG) shares hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $35.04 and last traded at $34.8850, with a volume of 311741 shares changing hands. The stock had previously closed at $32.53.

The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a net margin of 3.12% and a return on equity of 10.10%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PNTG. Caitong International Asset Management Co. Ltd lifted 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 worth $33,000 after acquiring an additional 717 shares during the period. Quarry LP purchased a new stake in The Pennant Group in the third quarter worth $37,000. State of Alaska Department of Revenue purchased a new stake in The Pennant Group in the third quarter worth $54,000. CIBC Private Wealth Group LLC lifted its stake in 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. Finally, Quadrant Capital Group LLC lifted its stake in The Pennant Group by 608.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after acquiring an additional 2,733 shares during the period. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Price Performance

The business has a 50 day moving average of $31.53 and a 200 day moving average of $29.37. The company has a market cap of $1.21 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14.

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.