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

by · The Cerbat Gem

Shares of The Pennant Group, Inc. (NASDAQ:PNTG – Get Free Report) traded down 8.2% on Monday . The stock traded as low as $31.42 and last traded at $31.4560. 230,260 shares changed hands 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.

Analyst Ratings Changes

A number of research firms have recently commented on PNTG. Truist Financial increased their target price on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company raised their price objective on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada raised their price objective on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Seven equities 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

View Our Latest Report on PNTG

The Pennant Group Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42. The stock has a market capitalization 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 has a 50 day moving average of $32.09 and a 200-day moving average of $30.58.

The Pennant Group (NASDAQ:PNTG – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $280.75 million. On average, equities research analysts anticipate that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Pennant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 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 during the third quarter worth $37,000. Parallel Advisors LLC boosted its position in The Pennant Group by 1,186.8% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of 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 acquiring an additional 2,946 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of 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 acquiring an additional 2,733 shares during the period. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Company Profile

(Get Free Report)

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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