The Pennant Group, Inc. $PNTG Shares Sold by 8 Knots Management LLC

8 Knots Management LLC decreased its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 99.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,705 shares of the company’s stock after selling 1,732,850 shares during the quarter. The Pennant Group accounts for about 0.0% of 8 Knots Management LLC’s holdings, making the stock its 12th biggest holding. 8 Knots Management LLC’s holdings in The Pennant Group were worth $245,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in The Pennant Group in the 3rd quarter valued at $37,000. CIBC Private Wealth Group LLC raised its stake in shares of The Pennant Group by 651.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after buying an additional 2,946 shares during the last quarter. Quadrant Capital Group LLC increased its position in The Pennant Group by 608.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after purchasing an additional 2,733 shares in the last quarter. Tower Research Capital LLC TRC increased its position in The Pennant Group by 161.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $119,000 after purchasing an additional 2,463 shares in the last quarter. Finally, Comerica Bank increased its position in The Pennant Group by 1,185.6% during the 4th quarter. Comerica Bank now owns 6,055 shares of the company’s stock worth $170,000 after purchasing an additional 5,584 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Stock Performance

Shares of PNTG opened at $32.85 on Friday. The business’s 50 day moving average is $32.27 and its two-hundred day moving average is $30.97. The Pennant Group, Inc. has a 52-week low of $21.73 and a 52-week high of $37.54. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.21 and a beta of 1.29. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $285.36 million for 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%. Analysts forecast that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial lifted their price objective on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen cut The Pennant Group from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Wells Fargo & Company boosted their target price on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group 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.