The Pennant Group (NASDAQ:PNTG) Trading Down 8.2% – Should You Sell?

Shares of The Pennant Group, Inc. (NASDAQ:PNTG) fell 8.2% during trading on Monday . The company traded as low as $31.42 and last traded at $31.4560. 230,260 shares were traded during mid-day trading, a decline of 16% from the average session volume of 272,840 shares. The stock had previously closed at $34.25.

Wall Street Analyst Weigh In

PNTG has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada upped 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 note on Friday, May 8th. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company increased their target price on shares of The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Stock Down 7.3%

The firm has a market cap of $1.10 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The stock’s 50 day simple moving average is $32.09 and its 200 day simple moving average is $30.58. 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) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. Research analysts anticipate that The Pennant Group, Inc. will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Turtle Creek Asset Management Inc. grew its holdings in shares of The Pennant Group by 12,075.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company’s stock worth $48,244,000 after purchasing an additional 1,569,823 shares in the last quarter. Bank of America Corp DE lifted its position in The Pennant Group by 5.6% in the first quarter. Bank of America Corp DE now owns 113,840 shares of the company’s stock valued at $3,470,000 after purchasing an additional 5,991 shares during the last quarter. Eversept Partners LP raised its holdings in shares of The Pennant Group by 6.2% during the first quarter. Eversept Partners LP now owns 312,178 shares of the company’s stock valued at $9,515,000 after acquiring an additional 18,218 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of The Pennant Group by 23.3% during the first quarter. Quantinno Capital Management LP now owns 11,398 shares of the company’s stock valued at $347,000 after acquiring an additional 2,155 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of The Pennant Group during the first quarter valued at approximately $1,445,000. 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.