PACS Group (NYSE:PACS) Sees Strong Trading Volume – Here’s What Happened

Shares of PACS Group, Inc. (NYSE:PACS) saw unusually-high trading volume on Monday . Approximately 963,960 shares traded hands during trading, an increase of 15% from the previous session’s volume of 840,880 shares.The stock last traded at $34.8280 and had previously closed at $33.41.

Analysts Set New Price Targets

Several research firms have recently commented on PACS. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research report on Wednesday. Wall Street Zen cut shares of PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Royal Bank Of Canada raised their target price on PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

PACS Group Trading Up 2.5%

The stock has a 50 day simple moving average of $15.36 and a 200-day simple moving average of $12.78. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The firm has a market cap of $5.36 billion, a P/E ratio of 32.59 and a beta of -0.74.

Insiders Place Their Bets

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction on 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 $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 at this link. Also, Director Evelyn S. Dilsaver bought 16,724 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the transaction, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This represents a 278.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On PACS Group

Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PACS Group in the first quarter valued at $469,000. Nuveen LLC purchased a new stake in PACS Group in the 1st quarter worth about $1,918,000. Los Angeles Capital Management LLC bought a new stake in PACS Group in the second quarter worth about $1,654,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PACS Group by 19.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,078 shares of the company’s stock valued at $282,000 after buying an additional 4,100 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in shares of PACS Group during the second quarter valued at approximately $297,000.

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.