The Pennant Group (NASDAQ:PNTG) Sets New 12-Month High – Time to Buy?

The Pennant Group, Inc. (NASDAQ:PNTG) hit a new 52-week high on Thursday . The company traded as high as $32.29 and last traded at $31.7950, with a volume of 22899 shares. The stock had previously closed at $31.61.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNTG. Royal Bank Of Canada reissued an “outperform” rating on shares of The Pennant Group in a research note on Friday, December 19th. Truist Financial upgraded The Pennant Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Tuesday, December 2nd. Zacks Research downgraded The Pennant Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. William Blair began coverage on The Pennant Group in a research note on Monday, December 8th. They set an “outperform” rating on the stock. Finally, Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average target price of $36.20.

The Pennant Group Stock Performance

The stock has a market cap of $1.08 billion, a P/E ratio of 41.53, a PEG ratio of 2.15 and a beta of 1.27. The stock has a fifty day simple moving average of $29.19 and a 200-day simple moving average of $26.47. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On The Pennant Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of The Pennant Group in the 3rd quarter valued at $37,000. State of Alaska Department of Revenue acquired a new position in The Pennant Group in the third quarter valued at about $54,000. CIBC Private Wealth Group LLC increased its holdings in shares of 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of The Pennant Group by 161.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $119,000 after acquiring an additional 2,463 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of The Pennant Group during the third quarter worth about $137,000. 85.88% of the stock is owned by institutional investors.

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.