Ellsworth Advisors LLC Buys New Position in PACS Group, Inc. $PACS

Ellsworth Advisors LLC purchased a new position in PACS Group, Inc. (NYSE:PACS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,005 shares of the company’s stock, valued at approximately $914,000.

Other institutional investors have also added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in shares of PACS Group by 94.7% during the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock valued at $2,538,000 after acquiring an additional 28,945 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of PACS Group in the second quarter worth $1,893,000. Engineers Gate Manager LP purchased a new stake in shares of PACS Group in the second quarter worth $1,132,000. Smith Group Asset Management LLC bought a new stake in shares of PACS Group during the 1st quarter valued at $771,000. Finally, Principal Financial Group Inc. purchased a new position in shares of PACS Group during the 1st quarter valued at $3,171,000.

Insider Buying and Selling at PACS Group

In other PACS Group news, Director Mark Hancock sold 155,682 shares of PACS Group stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total value of $6,611,814.54. Following the completion of the transaction, the director directly owned 53,518,884 shares of the company’s stock, valued at $2,272,947,003.48. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jason Murray sold 91,306 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52. Following the sale, the chief executive officer directly owned 54,754,110 shares in the company, valued at $2,404,800,511.20. The trade was a 0.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,026,283 shares of company stock worth $44,748,389 over the last 90 days. 70.10% of the stock is owned by insiders.

PACS Group Stock Up 6.2%

PACS opened at $47.77 on Friday. The firm has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $40.37. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $49.49. The company has a market capitalization of $7.56 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.40 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial set a $62.00 price objective on PACS Group in a research report on Wednesday, September 2nd. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Five investment 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 has an average rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.