Corient Private Wealth LLC Takes $533,000 Position in PACS Group, Inc. $PACS

Corient Private Wealth LLC purchased a new position in shares of PACS Group, Inc. (NYSE:PACS) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 41,228 shares of the company’s stock, valued at approximately $533,000.

A number of other hedge funds have also recently added to or reduced their stakes in PACS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 1,443 shares during the last quarter. Rhumbline Advisers raised its position in PACS Group by 3.6% in the 1st quarter. Rhumbline Advisers now owns 52,380 shares of the company’s stock worth $589,000 after purchasing an additional 1,840 shares during the last quarter. Peterson Wealth Services raised its position in PACS Group by 4.2% in the 2nd quarter. Peterson Wealth Services now owns 53,327 shares of the company’s stock worth $689,000 after purchasing an additional 2,167 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in PACS Group by 27.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock worth $134,000 after buying an additional 2,199 shares in the last quarter. Finally, State of Wyoming boosted its position in PACS Group by 33.0% in the 2nd quarter. State of Wyoming now owns 16,548 shares of the company’s stock valued at $214,000 after buying an additional 4,103 shares during the last quarter.

PACS Group Price Performance

PACS Group stock opened at $38.10 on Monday. The firm has a market capitalization of $5.97 billion, a P/E ratio of 36.29, a PEG ratio of 1.75 and a beta of -0.74. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $38.25. The business has a 50-day moving average of $23.70 and a 200-day moving average of $16.14. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates 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 anticipate that PACS Group, Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other PACS Group news, Director Evelyn S. Dilsaver bought 16,724 shares of PACS Group stock in a transaction on Monday, November 24th. The shares were purchased at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the acquisition, the director owned 22,739 shares in the company, valued at approximately $679,896.10. The trade was a 278.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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 directly owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 70.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PACS. JPMorgan Chase & Co. started coverage on PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price target on the stock. Zacks Research lowered shares of PACS Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of PACS Group in a research report on Friday, December 19th. UBS Group restated a “buy” rating and issued a $42.00 price objective (down from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.40.

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.