PACS Group (NYSE:PACS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of PACS Group (NYSE:PACS) from a buy rating to a hold rating in a report published on Sunday.

PACS has been the subject of several other research reports. Royal Bank Of Canada raised their target price on shares of PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a research note on Wednesday, November 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.75.

PACS Group Trading Down 6.0%

Shares of NYSE PACS opened at $31.52 on Friday. PACS Group has a 1-year low of $7.50 and a 1-year high of $35.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day moving average is $16.13 and its two-hundred day moving average is $13.09. The stock has a market capitalization of $4.94 billion, a P/E ratio of 30.02 and a beta of -0.63.

PACS Group (NYSE:PACS) last announced its earnings results on Wednesday, November 19th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.14). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.11 billion. PACS Group had a return on equity of 21.39% and a net margin of 3.29%. As a group, research analysts expect that PACS Group will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the transaction, the insider owned 755,836 shares in the company, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was purchased at an average price of $29.90 per share, with a total value of $500,047.60. Following the completion of the acquisition, the director directly owned 22,739 shares of the company’s stock, valued at $679,896.10. This represents a 278.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PACS. Alyeska Investment Group L.P. purchased a new stake in shares of PACS Group in the 3rd quarter worth approximately $11,904,000. Royce & Associates LP raised its stake in PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares in the last quarter. Marshall Wace LLP lifted its holdings in PACS Group by 348.6% during the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after buying an additional 785,537 shares during the period. Ameriprise Financial Inc. boosted its position in PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after acquiring an additional 545,348 shares during the period.

About PACS Group

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.