PACS Group, Inc. $PACS Stock Position Decreased by Squarepoint Ops LLC

Squarepoint Ops LLC cut its stake in shares of PACS Group, Inc. (NYSE:PACS) by 21.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,157 shares of the company’s stock after selling 30,342 shares during the period. Squarepoint Ops LLC’s holdings in PACS Group were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after buying an additional 1,443 shares during the period. Rhumbline Advisers lifted its position in shares of PACS Group by 3.6% in the 1st quarter. Rhumbline Advisers now owns 52,380 shares of the company’s stock valued at $589,000 after acquiring an additional 1,840 shares in the last quarter. Peterson Wealth Services raised its stake in PACS Group by 4.2% during the 2nd quarter. Peterson Wealth Services now owns 53,327 shares of the company’s stock valued at $689,000 after purchasing an additional 2,167 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of PACS Group by 27.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock valued at $134,000 after purchasing an additional 2,199 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of PACS Group by 33.0% in the second quarter. State of Wyoming now owns 16,548 shares of the company’s stock worth $214,000 after buying an additional 4,103 shares during the period.

PACS Group Stock Up 2.5%

PACS Group stock opened at $36.30 on Friday. 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, Inc. has a 1-year low of $7.50 and a 1-year high of $36.97. The firm’s fifty day simple moving average is $21.23 and its 200-day simple moving average is $15.13. The company has a market capitalization of $5.69 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.54 and a beta of -0.63.

PACS Group (NYSE:PACS) last posted its earnings results on Wednesday, November 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. Sell-side analysts forecast that PACS Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at PACS Group

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 transaction of $4,769,128.84. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evelyn S. Dilsaver purchased 16,724 shares of the stock in a transaction on Monday, November 24th. The shares were bought at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the acquisition, the director owned 22,739 shares of the company’s stock, valued at approximately $679,896.10. The trade was a 278.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 70.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PACS shares. Truist Financial set a $40.00 price objective on PACS Group in a research note on Friday, December 12th. Wall Street Zen downgraded shares of PACS Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of PACS Group in a research note on Friday. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a report on Monday. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

PACS Group 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.