SCHEDULE 13G/A: 8 Knots Management and Scott Green Disclose 7.08% Stake in The Pennant Group, Inc.

A Schedule 13G/A filing reveals that 8 Knots Management, LLC and Scott Green collectively hold a 7.08% beneficial ownership stake in The Pennant Group, Inc. as of December 31, 2024.

Summary

• 8 Knots Management, LLC and Scott Green, its managing member, jointly reported beneficial ownership of 2,432,710 shares of The Pennant Group, Inc. common stock, representing 7.08% of the class outstanding.
• 8 Knots Fund, LP and its general partner, 8 Knots GP, LP, reported beneficial ownership of 1,495,996 shares, equating to 4.36% of the common stock.
• The percentages are calculated based on 34,348,369 shares of The Pennant Group, Inc. common stock outstanding, as disclosed in the Issuer's Form 10-Q filed on November 6, 2024.
• 8 Knots Management, an SEC-registered investment adviser, serves as investment manager to 8 Knots Fund and adviser to several separately managed accounts (SMAs) and a sub-advised fund.
• While 8 Knots Management and Scott Green maintain investment discretion over shares held by a sub-advised fund (103,987 shares) and certain SMAs (totaling 802,820 shares across SMA-1, SMA-3, SMA-4, SMA-5), they disclaim beneficial ownership of these shares due to the terminable nature of the advisory agreements.
• They may be deemed to have beneficial ownership of 109,907 shares held by SMA-2, in addition to the shares held by 8 Knots Fund.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or prospects.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing pertains to The Pennant Group, Inc., an issuer of common stock, and details significant beneficial ownership by an investment management group.

Related Party Transactions

• Scott Green is the sole member and managing member of 8 Knots Management, LLC.
• 8 Knots Management, LLC is the general partner of 8 Knots GP, LP.
• 8 Knots GP, LP is the general partner of 8 Knots Fund, LP.
• 8 Knots Management, LLC serves as the investment manager to 8 Knots Fund, LP and as an adviser to several separately managed accounts and a sub-advised fund, establishing a hierarchical relationship among the reporting persons and the entities through which shares are held.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant ownership stakes held by institutional investors and their affiliates, which can influence market perception and trading activity.

Key Dates

Keywords

Beneficial Ownership, Schedule 13G, SEC Filing, Investment Management, The Pennant Group Inc., Common Stock, 8 Knots Management, Scott Green