PACS Group, Inc. $PACS Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 100.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,624 shares of the company’s stock after purchasing an additional 14,346 shares during the period. SG Americas Securities LLC’s holdings in PACS Group were worth $919,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after acquiring an additional 566,502 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after acquiring an additional 1,035,747 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PACS Group in the 1st quarter valued at approximately $6,762,000. Maven Securities LTD acquired a new position in PACS Group in the 4th quarter worth approximately $960,000. Finally, Corient Private Wealth LLC grew its position in PACS Group by 29.7% during the 4th quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock worth $6,528,000 after purchasing an additional 38,956 shares in the last quarter.

Insiders Place Their Bets

In related news, insider John Todd Mitchell sold 27,389 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the sale, the insider owned 803,566 shares in the company, valued at approximately $29,860,512.56. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the sale, the chief accounting officer directly owned 370,338 shares in the company, valued at approximately $14,817,223.38. This trade represents a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 595,152 shares of company stock worth $22,500,363 in the last ninety days. Insiders own 70.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PACS shares. Truist Financial increased their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Oppenheimer lifted their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

PACS Group Price Performance

Shares of NYSE:PACS opened at $44.61 on Monday. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.33 and a beta of -0.08. The business has a 50 day moving average price of $37.20 and a 200 day moving average price of $36.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $45.20.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Research analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

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.