Peterson Wealth Services Acquires 30,701 Shares of PACS Group, Inc. $PACS

Peterson Wealth Services lifted its holdings in PACS Group, Inc. (NYSE:PACS) by 57.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,028 shares of the company’s stock after purchasing an additional 30,701 shares during the period. Peterson Wealth Services’ holdings in PACS Group were worth $1,154,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in PACS Group during the first quarter worth $64,000. State of Alaska Department of Revenue bought a new stake in shares of PACS Group during the 3rd quarter worth about $69,000. Tower Research Capital LLC TRC increased 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 acquiring an additional 4,581 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of PACS Group by 27.0% in the 2nd 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. Finally, SG Americas Securities LLC bought a new position in shares of PACS Group in the 3rd quarter valued at approximately $143,000.

Analyst Ratings Changes

Several equities analysts have commented on PACS shares. Wall Street Zen upgraded PACS Group from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Truist Financial set a $40.00 price objective on shares of PACS Group in a report on Friday, December 12th. UBS Group reiterated a “buy” rating and issued a $42.00 target price (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Zacks Research raised shares of PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. started coverage on shares of PACS Group in a report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price target for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Insider Activity

In other PACS Group news, insider John Todd Mitchell sold 159,556 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was 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 of the company’s stock, valued at $22,591,938.04. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of PACS Group stock in a transaction on Monday, November 24th. The stock was purchased at an average price 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. Additional details regarding this purchase are available in the official SEC disclosure. 70.40% of the stock is currently owned by company insiders.

PACS Group Trading Up 4.8%

Shares of PACS Group stock opened at $35.39 on Tuesday. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $43.08. The company’s fifty day simple moving average is $35.96 and its 200-day simple moving average is $20.79. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.13 and a beta of -0.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28.

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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. As a group, sell-side analysts expect that PACS Group, Inc. will post 1.01 EPS 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.