Assenagon Asset Management S.A. Sells 101,235 Shares of PACS Group, Inc. $PACS

Assenagon Asset Management S.A. lessened its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 71.6% in the third quarter, Holdings Channel.com reports. The firm owned 40,166 shares of the company’s stock after selling 101,235 shares during the period. Assenagon Asset Management S.A.’s holdings in PACS Group were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Nuveen LLC purchased a new position in PACS Group during the 1st quarter valued at about $1,918,000. State of Wyoming increased its holdings in shares of PACS Group by 245.8% in the 1st quarter. State of Wyoming now owns 12,445 shares of the company’s stock worth $140,000 after buying an additional 8,846 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in PACS Group during the first quarter valued at about $198,000. PDT Partners LLC raised its holdings in shares of PACS Group by 25.4% during the 1st quarter. PDT Partners LLC now owns 157,711 shares of the company’s stock valued at $1,773,000 after buying an additional 31,982 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of PACS Group by 27.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 205,948 shares of the company’s stock worth $2,315,000 after acquiring an additional 44,047 shares in the last quarter.

Wall Street Analyst Weigh In

PACS has been the subject of a number of recent research reports. Wall Street Zen lowered PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. UBS Group reaffirmed a “buy” rating and issued a $42.00 target price (down from $50.00) on shares of PACS Group in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a research report on Monday. Truist Financial set a $40.00 price objective on shares of PACS Group in a report on Friday, December 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $47.00 price target on shares of PACS Group in a report on Friday, December 19th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Insider Buying and Selling at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares of the company’s stock, valued at $22,591,938.04. This trade represents a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $29.90 per share, with a total value of $500,047.60. Following the transaction, the director owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. This represents a 278.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 70.40% of the company’s stock.

PACS Group Price Performance

Shares of NYSE:PACS opened at $37.04 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5.80 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 1.71 and a beta of -0.63. The firm’s 50 day moving average price is $23.18 and its 200-day moving average price is $15.87. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $37.79.

PACS Group (NYSE:PACS) last announced its earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts expect that PACS Group, Inc. will post 1.01 EPS for the current year.

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.