Persistent Asset Partners Ltd Takes Position in PACS Group, Inc. $PACS

Persistent Asset Partners Ltd purchased a new stake in shares of PACS Group, Inc. (NYSE:PACS) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 26,940 shares of the company’s stock, valued at approximately $1,034,000.

Other institutional investors have also bought and sold shares of the company. Royce & Associates LP lifted its stake in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after acquiring an additional 806,446 shares during the period. Vanguard Group Inc. raised its holdings in PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after purchasing an additional 566,502 shares in the last quarter. Crewe Advisors LLC boosted its stake in PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after purchasing an additional 1,035,747 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in PACS Group by 216.6% during the 3rd quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock valued at $501,000 after purchasing an additional 24,971 shares in the last quarter. Finally, Maven Securities LTD bought a new position in PACS Group during the 4th quarter valued at $960,000.

Insider Transactions at PACS Group

In related news, insider John Todd Mitchell sold 52,763 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the transaction, the insider directly owned 830,955 shares in the company, valued at $31,592,909.10. The trade was a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PACS. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Oppenheimer lifted their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Finally, Truist Financial boosted their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

PACS Group Stock Down 1.2%

Shares of NYSE:PACS opened at $35.81 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $5.67 billion and a PE ratio of 22.96. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08. The firm has a 50 day simple moving average of $35.74 and a 200 day simple moving average of $35.93.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.36 billion. As a group, research analysts expect that PACS Group, Inc. will post 2.19 earnings per share for the current year.

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.