PACS Group (NYSE:PACS) Shares Down 8.8% – What’s Next?

PACS Group, Inc. (NYSE:PACS)’s stock price dropped 8.8% on Tuesday . The stock traded as low as $35.11 and last traded at $35.3440. Approximately 954,584 shares changed hands during trading, a decline of 21% from the average daily volume of 1,206,819 shares. The stock had previously closed at $38.77.

Analyst Ratings Changes

Several research firms have commented on PACS. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research downgraded shares of PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a research report on Friday, December 19th. Finally, Truist Financial set a $40.00 target price on PACS Group in a research report on Friday, December 12th. Three investment 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 MarketBeat, PACS Group has an average rating of “Hold” and a consensus price target of $43.25.

PACS Group Stock Down 8.0%

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 cap of $5.59 billion, a P/E ratio of 33.98, a P/E/G ratio of 1.26 and a beta of -0.68. The company’s 50 day moving average price is $32.49 and its two-hundred day moving average price is $19.23.

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

Insider Activity

In other news, 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 sale, the insider owned 755,836 shares in the company, valued at approximately $22,591,938.04. The trade was a 17.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Evelyn S. Dilsaver purchased 16,724 shares of the stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $29.90 per share, with a total value of $500,047.60. Following the transaction, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 70.40% of the company’s stock.

Institutional Trading of PACS Group

Institutional investors have recently modified their holdings of the company. Quarry LP raised its stake in shares of PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. Strategic Advocates LLC purchased a new position in PACS Group in the third quarter worth $60,000. Jones Financial Companies Lllp acquired a new position in shares of PACS Group during the first quarter worth $64,000. State of Alaska Department of Revenue acquired a new position in shares of PACS Group during the third quarter worth $69,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of PACS Group by 289.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after purchasing an additional 4,581 shares during the last quarter.

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.