PACS Group (NYSE:PACS) Stock Price Down 5.9% – Should You Sell?

PACS Group, Inc. (NYSE:PACS) fell 5.9% during mid-day trading on Wednesday . The company traded as low as $38.10 and last traded at $39.6440. 1,600,125 shares traded hands during trading, an increase of 27% from the average session volume of 1,262,048 shares. The stock had previously closed at $42.13.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PACS shares. UBS Group reaffirmed a “buy” rating and issued a $42.00 target price (down previously from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of PACS Group in a report on Friday, December 19th. Wall Street Zen downgraded PACS Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Truist Financial set a $40.00 price target on PACS Group in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.25.

PACS Group Stock Down 6.1%

The firm has a market capitalization of $6.20 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.35 and a beta of -0.68. 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 business has a 50-day moving average price of $30.37 and a 200-day moving average price of $18.50.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Equities research analysts forecast 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 PACS Group news, insider John Todd Mitchell sold 159,556 shares of the company’s 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 owned 755,836 shares in the company, valued at $22,591,938.04. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Evelyn S. Dilsaver bought 16,724 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new stake in PACS Group in the third quarter valued at approximately $11,904,000. Royce & Associates LP grew its stake in PACS Group by 76.6% during the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares during the period. Marshall Wace LLP raised its position in PACS Group by 348.6% in the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after purchasing an additional 785,537 shares during the period. Ameriprise Financial Inc. lifted its position in PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of PACS Group by 67.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after purchasing an additional 545,348 shares during the period.

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.