SG Americas Securities LLC Purchases 14,346 Shares of PACS Group, Inc. $PACS

SG Americas Securities LLC boosted its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 100.5% during the first quarter, Holdings Channel reports. The institutional investor owned 28,624 shares of the company’s stock after acquiring an additional 14,346 shares during the quarter. SG Americas Securities LLC’s holdings in PACS Group were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PACS. Vanguard Group Inc. raised its stake in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after acquiring an additional 1,382,984 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of 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 acquiring an additional 1,035,747 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in 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 acquiring an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in PACS Group by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after acquiring an additional 220,939 shares during the period.

Insider Transactions at PACS Group

In related news, CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the completion of the sale, the chief accounting officer directly owned 370,338 shares in the company, valued at $14,817,223.38. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 61,931 shares of PACS Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $40.50, for a total value of $2,508,205.50. Following the completion of the sale, the insider owned 54,102,597 shares of the company’s stock, valued at approximately $2,191,155,178.50. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 595,152 shares of company stock worth $22,500,363 over the last 90 days. 70.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on PACS shares. Truist Financial raised their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Oppenheimer increased their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

PACS Group Stock Performance

Shares of PACS Group stock opened at $44.61 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $7.06 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.33 and a beta of -0.08. The firm has a 50 day simple moving average of $37.20 and a 200 day simple moving average of $36.64. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $45.20.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Sell-side analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal 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.