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

Los Angeles Capital Management LLC lessened its position in shares of PACS Group, Inc. (NYSE:PACS) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PACS. Cubist Systematic Strategies LLC purchased a new position in PACS Group during the 1st quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 buying an additional 1,443 shares in the last quarter. Millennium Management LLC grew its holdings in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after buying an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in PACS Group during the 1st quarter valued at approximately $64,000. Finally, Caxton Associates LLP purchased a new position in PACS Group during the 1st quarter valued at approximately $163,000.

Analyst Ratings Changes

PACS has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Truist Financial lifted their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Royal Bank Of Canada lifted their target price on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Insider Buying and Selling at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the 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 sale, the insider owned 830,955 shares in the company, valued at $31,592,909.10. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of the 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 sale, the chief operating officer owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,487 shares of company stock worth $4,269,388 in the last ninety days. 70.10% of the stock is currently owned by corporate insiders.

PACS Group Price Performance

Shares of PACS Group stock opened at $35.19 on Wednesday. The stock has a market cap of $5.57 billion and a price-to-earnings ratio of 22.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $35.35 and a 200-day moving average price of $35.72. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Equities analysts expect that PACS Group, Inc. will post 2.19 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.