The Pennant Group (NASDAQ:PNTG) Upgraded at Wall Street Zen

The Pennant Group (NASDAQ:PNTG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the company. Truist Financial raised The Pennant Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Tuesday, December 2nd. Wells Fargo & Company lifted their price objective on The Pennant Group from $31.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Jefferies Financial Group initiated coverage on The Pennant Group in a report on Friday, October 24th. They issued a “buy” rating and a $30.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of The Pennant Group in a research report on Monday, December 29th. Finally, William Blair initiated coverage on shares of The Pennant Group in a research report on Monday, December 8th. They issued an “outperform” rating on the stock. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.20.

The Pennant Group Stock Down 0.1%

PNTG stock opened at $32.32 on Friday. 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 company’s 50-day moving average price is $29.60 and its 200 day moving average price is $26.90. The Pennant Group has a 52 week low of $21.18 and a 52 week high of $33.04. The company has a market cap of $1.12 billion, a P/E ratio of 43.09, a P/E/G ratio of 2.25 and a beta of 1.27.

Institutional Trading of The Pennant Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ophir Asset Management Pty Ltd increased its position in The Pennant Group by 403.9% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock worth $31,305,000 after purchasing an additional 840,642 shares in the last quarter. WCM Investment Management LLC purchased a new position in The Pennant Group in the 3rd quarter valued at about $16,100,000. Ameriprise Financial Inc. acquired a new stake in shares of The Pennant Group during the 2nd quarter worth about $14,356,000. Provident Investment Management Inc. grew its holdings in shares of The Pennant Group by 161.0% during the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock worth $19,476,000 after buying an additional 426,797 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in shares of The Pennant Group in the fourth quarter valued at approximately $11,023,000. 85.88% of the stock is currently owned by hedge funds and other 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.