Summit Creek Advisors LLC purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 172,755 shares of the company’s stock, valued at approximately $6,383,000. The Pennant Group accounts for about 2.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 18th largest position.
Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of The Pennant Group by 34.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after purchasing an additional 403 shares during the period. Caitong International Asset Management Co. Ltd raised its position in The Pennant Group by 154.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock valued at $33,000 after purchasing an additional 717 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in The Pennant Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after purchasing an additional 857 shares during the period. Parallel Advisors LLC lifted its stake in The Pennant Group by 1,186.8% during the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after purchasing an additional 1,258 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in The Pennant Group by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,400 shares of the company’s stock worth $370,000 after purchasing an additional 1,263 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.
The Pennant Group Stock Performance
Shares of PNTG stock opened at $39.40 on Wednesday. The firm has a 50 day moving average of $38.19 and a two-hundred day moving average of $34.16. The stock has a market capitalization of $1.38 billion, a PE ratio of 43.78, a P/E/G ratio of 2.56 and a beta of 1.26. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. The Pennant Group, Inc. has a 52 week low of $22.25 and a 52 week high of $42.69.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. 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 upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Truist Financial increased their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Wells Fargo & Company lifted their target price on The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.20.
Check Out Our Latest Research Report on The Pennant Group
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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