Provident Investment Management Inc. Buys Shares of 265,065 The Pennant Group, Inc. $PNTG

Provident Investment Management Inc. purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 265,065 shares of the company’s stock, valued at approximately $6,685,000. The Pennant Group makes up about 0.6% of Provident Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Provident Investment Management Inc. owned 0.77% of The Pennant Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its stake 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 buying an additional 36,357 shares during the last quarter. Gallagher Capital Advisors LLC purchased a new stake in shares of The Pennant Group during the third quarter worth about $1,786,000. Algert Global LLC grew its stake in shares of The Pennant Group by 392.5% during the third quarter. Algert Global LLC now owns 421,702 shares of the company’s stock worth $10,635,000 after acquiring an additional 336,072 shares during the last quarter. Van Berkom & Associates Inc. increased 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 valued at $78,505,000 after acquiring an additional 284,856 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of The Pennant Group in the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $33.03 on Wednesday. The business’s 50 day moving average price is $31.04 and its 200 day moving average price is $27.95. The firm has a market cap of $1.14 billion, a P/E ratio of 39.80, a P/E/G ratio of 2.32 and a beta of 1.23. The Pennant Group, Inc. has a 52 week low of $21.73 and a 52 week high of $35.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.45.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The Pennant Group had a net margin of 3.12% and a return on equity of 10.10%. The company had revenue of $289.32 million during the quarter, compared to analyst estimates of $275.20 million. The Pennant Group has set its FY 2026 guidance at 1.260-1.360 EPS. On average, sell-side analysts expect that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their price target on shares of The Pennant Group from $31.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Zacks Research cut shares of The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Truist Financial upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, December 2nd. Finally, William Blair initiated coverage on shares of The Pennant Group in a report on Monday, December 8th. They set an “outperform” rating on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

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.