WCM Investment Management LLC Lowers Position in The Pennant Group, Inc. $PNTG

WCM Investment Management LLC trimmed its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 50.0% during the first quarter, Holdings Channel.com reports. The fund owned 327,927 shares of the company’s stock after selling 327,483 shares during the quarter. WCM Investment Management LLC’s holdings in The Pennant Group were worth $9,884,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PNTG. Dimensional Fund Advisors LP lifted its holdings in The Pennant Group by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 815,660 shares of the company’s stock worth $24,861,000 after acquiring an additional 11,943 shares during the period. Parallel Advisors LLC boosted its stake in The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares during the last quarter. Fifth Third Bancorp grew its position in shares of The Pennant Group by 548.9% during the 1st quarter. Fifth Third Bancorp now owns 6,807 shares of the company’s stock valued at $207,000 after acquiring an additional 5,758 shares during the period. Wasatch Advisors LP increased its stake in shares of The Pennant Group by 143.2% during the 1st quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock worth $43,242,000 after purchasing an additional 835,227 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of The Pennant Group by 154.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after purchasing an additional 717 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Truist Financial boosted their price objective on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their target price on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

The Pennant Group Trading Down 1.9%

The Pennant Group stock opened at $41.15 on Tuesday. The firm’s fifty day moving average price is $35.59 and its 200-day moving average price is $32.55. The Pennant Group, Inc. has a fifty-two week low of $21.73 and a fifty-two week high of $42.55. The stock has a market cap of $1.43 billion, a P/E ratio of 48.41, a PEG ratio of 2.82 and a beta of 1.25. 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 issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $285.36 million during the quarter, compared to analyst estimates of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. Equities research analysts forecast that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

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.