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

Summit Creek Advisors LLC bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 331,669 shares of the company’s stock, valued at approximately $9,336,000. Summit Creek Advisors LLC owned approximately 0.96% of The Pennant Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Provident Investment Management Inc. lifted 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. First Eagle Investment Management LLC increased its position in shares of The Pennant Group by 1.3% in the fourth quarter. First Eagle Investment Management LLC now owns 447,949 shares of the company’s stock worth $12,610,000 after purchasing an additional 5,750 shares during the period. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of The Pennant Group in the fourth quarter worth $384,000. Comerica Bank increased its position in shares of The Pennant Group by 1,185.6% in the fourth quarter. Comerica Bank now owns 6,055 shares of the company’s stock worth $170,000 after purchasing an additional 5,584 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of The Pennant Group by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after purchasing an additional 82,071 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

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

The Pennant Group Stock Performance

The Pennant Group stock opened at $35.32 on Thursday. The Pennant Group, Inc. has a 12-month low of $21.73 and a 12-month high of $37.54. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $32.00 and its two-hundred day moving average price is $30.13. The stock has a market cap of $1.23 billion, a PE ratio of 41.55, a P/E/G ratio of 2.35 and a beta of 1.28.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The firm had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. As a group, analysts expect that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

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.