The Pennant Group (NASDAQ:PNTG) Trading Up 4.9% – Here’s What Happened

The Pennant Group, Inc. (NASDAQ:PNTG)’s stock price shot up 4.9% during mid-day trading on Monday . The stock traded as high as $29.24 and last traded at $29.05. 98,275 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 262,918 shares. The stock had previously closed at $27.70.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PNTG shares. Wells Fargo & Company raised The Pennant Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $29.00 to $31.00 in a research report on Tuesday, November 18th. Jefferies Financial Group initiated coverage on The Pennant Group in a report on Friday, October 24th. They set a “buy” rating and a $30.00 price target for the company. Royal Bank Of Canada raised their price objective on shares of The Pennant Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Zacks Research upgraded shares of The Pennant Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.60.

The Pennant Group Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $25.26 and a 200-day moving average price of $25.74. The firm has a market capitalization of $998.61 million, a price-to-earnings ratio of 38.51, a PEG ratio of 2.24 and a beta of 1.31.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The Pennant Group had a return on equity of 9.37% and a net margin of 3.15%.The firm had revenue of $229.04 million for the quarter, compared to analyst estimates of $221.96 million. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. As a group, analysts anticipate that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

A number of large investors have recently added to or reduced their stakes in PNTG. CIBC Private Wealth Group LLC boosted its position in The Pennant Group by 651.8% during the 3rd 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 last quarter. Provident Investment Management Inc. bought a new stake in shares of The Pennant Group in the third quarter worth $6,685,000. Dark Forest Capital Management LP acquired a new position in The Pennant Group during the third quarter worth $1,173,000. PharVision Advisers LLC bought a new position in The Pennant Group in the third quarter valued at $222,000. Finally, Turtle Creek Asset Management Inc. grew its position in The Pennant Group by 84.6% in the third quarter. Turtle Creek Asset Management Inc. now owns 12,000 shares of the company’s stock valued at $303,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

About The Pennant Group

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.