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

Key Points

• Turtle Creek Asset Management increased its Pennant Group stake by 12,075.6% in the first quarter, holding 1.58 million shares worth approximately $48.24 million, or 4.55% of PNTG.
• Institutional investors own 85.88% of PNTG, with several firms—including Royal Bank of Canada and AQR Capital Management—also increasing their positions.
• Analysts maintain a Moderate Buy consensus, with an average price target of $41.00. Pennant Group recently beat quarterly earnings and revenue estimates, reporting $0.32 in EPS and $285.36 million in revenue.

Turtle Creek Asset Management Inc. raised its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 12,075.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,582,823 shares of the company's stock after buying an additional 1,569,823 shares during the period. The Pennant Group comprises about 1.8% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 22nd biggest holding. Turtle Creek Asset Management Inc. owned 4.55% of The Pennant Group worth $48,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of The Pennant Group by 174.5% during the first quarter. Royal Bank of Canada now owns 27,290 shares of the company's stock worth $687,000 after acquiring an additional 17,347 shares in the last quarter. AQR Capital Management LLC grew its stake in The Pennant Group by 32.6% in the first quarter. AQR Capital Management LLC now owns 10,255 shares of the company's stock valued at $258,000 after purchasing an additional 2,524 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in The Pennant Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company's stock worth $488,000 after purchasing an additional 857 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Pennant Group by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company's stock worth $2,047,000 after purchasing an additional 3,507 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of The Pennant Group during the 1st quarter worth about $297,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNTG. Truist Financial lifted their price target on The Pennant Group from $42.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Weiss Ratings cut shares of The Pennant Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $41.08 on Thursday. The stock 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 business has a 50-day moving average of $36.36 and a two-hundred day moving average of $33.17. 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 Pennant Group (NASDAQ:PNTG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The business had revenue of $285.36 million for the quarter, compared to analyst estimates of $280.75 million. On average, equities research analysts predict that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

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.

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