Summit Creek Advisors LLC Invests $9.34 Million in The Pennant Group, Inc. $PNTG

Summit Creek Advisors LLC purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 331,669 shares of the company’s stock, valued at approximately $9,336,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Van Berkom & Associates Inc. grew its holdings in shares of The Pennant Group by 10.1% during the third quarter. Van Berkom & Associates Inc. now owns 3,112,812 shares of the company’s stock worth $78,505,000 after purchasing an additional 284,856 shares during the last quarter. Vanguard Group Inc. raised its position in shares of The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after acquiring an additional 82,071 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 acquiring an additional 60,784 shares during the last quarter. Provident Investment Management Inc. boosted its holdings in The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after acquiring an additional 426,797 shares during the last quarter. Finally, WCM Investment Management LLC bought a new stake in The Pennant Group in the third quarter valued at approximately $16,100,000. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Price Performance

The Pennant Group stock opened at $35.32 on Thursday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.35 and a beta of 1.28. The Pennant Group, Inc. has a 52-week low of $21.73 and a 52-week high of $37.54. The stock’s 50 day moving average price is $32.00 and its two-hundred day moving average price is $30.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19.

The Pennant Group (NASDAQ:PNTG) last posted 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 firm had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, equities analysts predict that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on PNTG. Truist Financial upped their target price on The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company upped their target price on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price target on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings cut The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group 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.