Los Angeles Capital Management LLC Trims Position in PACS Group, Inc. $PACS

Los Angeles Capital Management LLC lessened its stake in PACS Group, Inc. (NYSE:PACS) by 32.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,747 shares of the company’s stock after selling 23,833 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PACS Group were worth $1,948,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares during the period. Quarry LP raised its position in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after purchasing an additional 1,443 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in PACS Group during the 4th quarter valued at $74,000. Finally, Intech Investment Management LLC raised its position in PACS Group by 19.0% during the 4th quarter. Intech Investment Management LLC now owns 20,458 shares of the company’s stock valued at $785,000 after purchasing an additional 3,271 shares in the last quarter.

Analyst Ratings Changes

PACS has been the subject of a number of research analyst reports. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Truist Financial lifted their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Finally, UBS Group lifted their target price on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

PACS Group Trading Up 0.3%

PACS opened at $35.19 on Wednesday. The firm has a market cap of $5.57 billion and a price-to-earnings ratio of 22.56. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The stock has a fifty day moving average price of $35.35 and a 200-day moving average price of $35.72.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. As a group, equities research analysts anticipate that PACS Group, Inc. will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other news, COO Joshua Jergensen sold 36,335 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the transaction, the chief operating officer directly owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Todd Mitchell sold 52,763 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 116,487 shares of company stock valued at $4,269,388. Corporate insiders own 70.10% of the company’s stock.

PACS Group 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.