WCM Investment Management LLC Takes $16.10 Million Position in The Pennant Group, Inc. $PNTG

WCM Investment Management LLC purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 639,384 shares of the company’s stock, valued at approximately $16,100,000. WCM Investment Management LLC owned 1.85% of The Pennant Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of The Pennant Group by 4.6% during the second quarter. Geode Capital Management LLC now owns 832,481 shares of the company’s stock valued at $24,853,000 after purchasing an additional 36,357 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of The Pennant Group in the 2nd quarter worth approximately $211,000. Pinnacle Associates Ltd. purchased a new stake in shares of The Pennant Group in the 2nd quarter worth approximately $1,104,000. Yorktown Management & Research Co Inc purchased a new stake in shares of The Pennant Group in the 2nd quarter worth approximately $293,000. Finally, Ranger Investment Management L.P. increased its position in The Pennant Group by 56.6% during the 2nd quarter. Ranger Investment Management L.P. now owns 304,925 shares of the company’s stock valued at $9,102,000 after buying an additional 110,175 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Trading Up 3.5%

NASDAQ:PNTG opened at $29.22 on Wednesday. The company has a market cap of $1.01 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. 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 has a 50 day simple moving average of $28.95 and a two-hundred day simple moving average of $26.18. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $31.94.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $229.04 million for the quarter, compared to the consensus estimate of $221.96 million. The Pennant Group had a return on equity of 9.37% and a net margin of 3.15%. Research analysts forecast that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PNTG. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Thursday, October 9th. Jefferies Financial Group initiated coverage on shares of The Pennant Group in a research report on Friday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Truist Financial raised shares of The Pennant Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Tuesday, December 2nd. Zacks Research lowered shares of The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, William Blair initiated coverage on The Pennant Group in a research note on Monday, December 8th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

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.