Turtle Creek Asset Management Inc. Has $48.24 Million Stake in The Pennant Group, Inc. $PNTG

Turtle Creek Asset Management Inc. raised its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 12,075.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,582,823 shares of the company’s stock after acquiring an additional 1,569,823 shares during the period. The Pennant Group makes up 1.8% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 22nd biggest holding. Turtle Creek Asset Management Inc.’s holdings in The Pennant Group were worth $48,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PNTG. JPMorgan Chase & Co. grew its holdings in The Pennant Group by 288.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock valued at $3,297,000 after buying an additional 97,061 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of The Pennant Group by 317.4% in the third quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock valued at $5,226,000 after acquiring an additional 157,574 shares during the period. Vanguard Group Inc. grew its stake 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 acquiring an additional 82,071 shares during the last quarter. Rice Hall James & Associates LLC increased its position in The Pennant Group by 14.2% during the fourth quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company’s stock worth $7,249,000 after acquiring an additional 31,932 shares during the period. Finally, Provident Investment Management Inc. increased its position in 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 acquiring an additional 426,797 shares during the period. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Stock Down 2.2%

PNTG opened at $41.08 on Thursday. The Pennant Group, Inc. has a fifty-two week low of $21.73 and a fifty-two week high of $42.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s fifty day moving average price is $36.36 and its two-hundred day moving average price is $33.17. The company has a market capitalization of $1.43 billion, a P/E ratio of 48.33, a P/E/G ratio of 2.82 and a beta of 1.25.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Royal Bank Of Canada increased their target price on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Truist Financial lifted their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and two have assigned 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 an average target price of $41.00.

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.