PACS Group (NYSE:PACS) Trading Up 6.5% – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) shares rose 6.5% during mid-day trading on Tuesday . The stock traded as high as $39.44 and last traded at $40.2730. Approximately 60,395 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,039,392 shares. The stock had previously closed at $37.81.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PACS shares. UBS Group restated a “buy” rating and set a $42.00 target price (down from $50.00) on shares of PACS Group in a report on Thursday, December 18th. JPMorgan Chase & Co. initiated coverage on PACS Group in a research report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price objective for the company. Truist Financial set a $40.00 target price on PACS Group in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Finally, Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a report on Sunday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.25.

PACS Group Stock Down 1.0%

The business has a fifty day moving average price of $37.62 and a two-hundred day moving average price of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 1.37 and a beta of -0.65.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. On average, equities analysts predict that PACS Group, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling at PACS Group

In related news, Director Evelyn S. Dilsaver purchased 16,724 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were acquired at an average cost of $29.90 per share, with a total value of $500,047.60. Following the completion of the purchase, the director owned 22,739 shares of the company’s stock, valued at $679,896.10. The trade was a 278.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the transaction, the insider owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in PACS Group during the first quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PACS Group by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after buying an additional 1,443 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of PACS Group during the 1st quarter worth $64,000. Finally, Caxton Associates LLP acquired a new position in PACS Group in the 1st quarter valued at $163,000.

PACS Group Company Profile

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.