WCM Investment Management LLC Sells 327,483 Shares of The Pennant Group, Inc. $PNTG

Key Points

• WCM Investment Management cut its stake in The Pennant Group by 50% in the first quarter, selling 327,483 shares and leaving it with about 0.94% of the company worth roughly $9.9 million.
• Analysts have turned more bullish on PNTG, with multiple firms raising price targets and upgrades pushing the stock to a Moderate Buy consensus and an average target price of $41.
• The Pennant Group shares were down 1.9% on the day to $41.15, though the company recently beat quarterly EPS and revenue estimates in its latest earnings report.

WCM Investment Management LLC reduced its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 327,927 shares of the company's stock after selling 327,483 shares during the quarter. WCM Investment Management LLC owned about 0.94% of The Pennant Group worth $9,884,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in 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. Quarry LP bought a new stake in shares of The Pennant Group in the 3rd quarter valued at $37,000. Parallel Advisors LLC boosted its stake in shares of The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company's stock valued at $42,000 after purchasing an additional 1,258 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of The Pennant Group by 651.8% during the third 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 period. Finally, Quadrant Capital Group LLC increased its position in shares of The Pennant Group by 608.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company's stock worth $90,000 after buying an additional 2,733 shares during the period. 85.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

The Pennant Group Stock Down 1.9%

The Pennant Group stock opened at $41.15 on Tuesday. The Pennant Group, Inc. has a 1-year low of $21.73 and a 1-year high of $42.55. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 48.41, a price-to-earnings-growth ratio of 2.82 and a beta of 1.25. The firm's fifty day moving average price is $35.59 and its two-hundred day moving average price is $32.55. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping 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 company had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. On average, equities research analysts predict 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.

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