Owls Nest Partners IA LLC Purchases New Shares in PACS Group, Inc. $PACS

Owls Nest Partners IA LLC acquired a new stake in PACS Group, Inc. (NYSE:PACS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $323,000. PACS Group makes up about 0.1% of Owls Nest Partners IA LLC’s holdings, making the stock its 15th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group during the first quarter worth $64,000. Police & Firemen s Retirement System of New Jersey grew its stake in shares of PACS Group by 27.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock valued at $134,000 after acquiring an additional 2,199 shares in the last quarter. State of Wyoming increased its position in PACS Group by 245.8% during the first quarter. State of Wyoming now owns 12,445 shares of the company’s stock worth $140,000 after acquiring an additional 8,846 shares during the period. Versor Investments LP bought a new position in PACS Group during the first quarter worth about $145,000. Finally, Fox Run Management L.L.C. acquired a new stake in PACS Group in the 2nd quarter worth about $149,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PACS shares. Zacks Research lowered shares of PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a research report on Monday. Royal Bank Of Canada increased their price target on PACS Group from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Wall Street Zen lowered PACS Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.75.

PACS Group Price Performance

PACS stock opened at $31.01 on Thursday. The company’s 50-day moving average price is $18.24 and its two-hundred day moving average price is $13.95. The firm has a market cap of $4.86 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.35 and a beta of -0.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $35.10.

PACS Group (NYSE:PACS) last issued 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 for 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%. On average, analysts anticipate that PACS Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other news, insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the transaction, the insider 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average price of $29.90 per share, with a total value of $500,047.60. Following the completion of the transaction, the director owned 22,739 shares in the company, valued at $679,896.10. The trade was a 278.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 70.40% of the stock is owned by corporate insiders.

PACS Group 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.