Provident Investment Management Inc. Makes New $6.69 Million Investment in The Pennant Group, Inc. $PNTG

Provident Investment Management Inc. acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the third quarter, Holdings Channel.com reports. The firm acquired 265,065 shares of the company’s stock, valued at approximately $6,685,000. The Pennant Group makes up about 0.6% of Provident Investment Management Inc.’s portfolio, making the stock its 24th largest position.

A number of other hedge funds have also recently modified their holdings of PNTG. Ophir Asset Management Pty Ltd grew its holdings in The Pennant Group by 403.9% during the second quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock worth $31,305,000 after acquiring an additional 840,642 shares during the period. WCM Investment Management LLC acquired a new position in The Pennant Group in the third quarter valued at approximately $16,100,000. Ameriprise Financial Inc. acquired a new position in The Pennant Group in the second quarter valued at approximately $14,356,000. Algert Global LLC boosted its position in The Pennant Group by 392.5% in the 3rd quarter. Algert Global LLC now owns 421,702 shares of the company’s stock worth $10,635,000 after purchasing an additional 336,072 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in The Pennant Group by 10.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,112,812 shares of the company’s stock worth $78,505,000 after purchasing an additional 284,856 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Down 1.4%

Shares of PNTG opened at $33.03 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of 39.80, a PEG ratio of 2.32 and a beta of 1.23. The Pennant Group, Inc. has a 12 month low of $21.73 and a 12 month high of $35.00. The stock’s 50 day moving average is $31.04 and its two-hundred day moving average is $27.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Wednesday, February 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The Pennant Group had a return on equity of 10.10% and a net margin of 3.12%.The business had revenue of $289.32 million during the quarter, compared to the consensus estimate of $275.20 million. The Pennant Group has set its FY 2026 guidance at 1.260-1.360 EPS. Analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PNTG has been the subject of several recent research reports. Zacks Research lowered shares of The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings raised shares of The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wells Fargo & Company raised their price target on shares of The Pennant Group from $31.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. William Blair initiated coverage on shares of The Pennant Group in a report on Monday, December 8th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada upped their price objective on shares of The Pennant Group from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

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.