The Pennant Group (NASDAQ:PNTG) Cut to Hold at Zacks Research

Zacks Research downgraded shares of The Pennant Group (NASDAQ:PNTG) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

PNTG has been the topic of a number of other research reports. Stephens reiterated an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a report on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of The Pennant Group in a research note on Monday, December 29th. Jefferies Financial Group started coverage on The Pennant Group in a report on Friday, October 24th. They set a “buy” rating and a $30.00 target price for the company. Truist Financial raised shares of The Pennant Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $34.00 in a research report on Tuesday, December 2nd. Finally, Wells Fargo & Company upped 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. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

The Pennant Group Stock Performance

The Pennant Group stock opened at $28.82 on Monday. The stock has a fifty day moving average price of $27.99 and a 200 day moving average price of $25.84. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $30.46. The firm has a market capitalization of $996.88 million, a P/E ratio of 38.43, a PEG ratio of 1.95 and a beta of 1.28. 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 Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $229.04 million for the quarter, compared to analyst estimates of $221.96 million. The Pennant Group had a return on equity of 9.37% and a net margin of 3.15%.The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. Equities research analysts anticipate that The Pennant Group will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On The Pennant Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. lifted its holdings in The Pennant Group by 10.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,112,812 shares of the company’s stock worth $78,505,000 after buying an additional 284,856 shares in the last quarter. Ophir Asset Management Pty Ltd lifted its stake in shares of The Pennant Group by 403.9% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock worth $31,305,000 after acquiring an additional 840,642 shares in the last quarter. Geode Capital Management LLC boosted its holdings in The Pennant Group by 4.6% in the second quarter. Geode Capital Management LLC now owns 832,481 shares of the company’s stock valued at $24,853,000 after purchasing an additional 36,357 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in The Pennant Group by 8.2% in the third quarter. Dimensional Fund Advisors LP now owns 805,992 shares of the company’s stock valued at $20,327,000 after purchasing an additional 60,784 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in The Pennant Group during the 3rd quarter valued at approximately $16,100,000. 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.