Cohen & Steers Inc. Has $364.67 Million Stake in PACS Group, Inc. $PACS

Cohen & Steers Inc. decreased its holdings in PACS Group, Inc. (NYSE:PACS) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,497,777 shares of the company’s stock after selling 108,750 shares during the quarter. Cohen & Steers Inc. owned 6.06% of PACS Group worth $364,665,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter valued at about $27,000. Larson Financial Group LLC increased its holdings in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after buying an additional 612 shares during the period. Physician Wealth Advisors Inc. bought a new position in PACS Group in the 4th quarter valued at about $74,000. Quarry LP increased its holdings in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the period. Finally, Strategic Advocates LLC bought a new position in PACS Group in the 3rd quarter valued at about $60,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Royal Bank Of Canada raised their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Truist Financial raised their target price on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Finally, Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Insider Buying and Selling

In related news, insider John Todd Mitchell sold 27,389 shares of PACS Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the sale, the insider directly owned 803,566 shares in the company, valued at $29,860,512.56. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is currently owned by corporate insiders.

PACS Group Stock Up 4.7%

NYSE:PACS opened at $36.39 on Friday. The firm’s 50 day simple moving average is $35.58 and its 200 day simple moving average is $35.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a market cap of $5.76 billion and a PE ratio of 23.33.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, research analysts anticipate that PACS Group, Inc. will post 2.19 earnings per share 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.