The Pennant Group (NASDAQ:PNTG – Get Free Report) had its price objective boosted by equities researchers at Wells Fargo & Company from $41.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.19% from the company’s previous close.
PNTG has been the topic of a number of other research reports. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Royal Bank Of Canada lifted 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. Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, Truist Financial raised their price target on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.80.
Check Out Our Latest Report on PNTG
The Pennant Group Trading Up 0.8%
The Pennant Group (NASDAQ:PNTG – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, sell-side analysts anticipate that The Pennant Group will post 1.14 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in The Pennant Group by 154.2% during 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 in the last quarter. Quarry LP bought a new stake in The Pennant Group in the third quarter valued at $37,000. Parallel Advisors LLC increased its stake in The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after purchasing an additional 1,258 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of The Pennant Group by 34.6% during the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after purchasing an additional 403 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after purchasing an additional 2,946 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.
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.
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