PACS Group (NYSE:PACS) Shares Down 5.9% – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s share price traded down 5.9% during mid-day trading on Wednesday . The company traded as low as $38.10 and last traded at $39.6440. 1,600,125 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 1,262,048 shares. The stock had previously closed at $42.13.

Wall Street Analysts Forecast Growth

PACS has been the subject of a number of recent research reports. Wall Street Zen downgraded PACS Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Truist Financial set a $40.00 price objective on shares of PACS Group in a research report on Friday, December 12th. Zacks Research cut shares of PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. began coverage on shares of PACS Group in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.25.

PACS Group Stock Down 1.8%

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50 day moving average is $31.97 and its two-hundred day moving average is $18.97. The firm has a market capitalization of $6.06 billion, a P/E ratio of 36.83, a PEG ratio of 1.28 and a beta of -0.68.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.11 billion. Research analysts predict that PACS Group, Inc. will post 1.01 EPS for the current year.

Insider Activity

In related news, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares in the company, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 acquired at an average cost of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, 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. Company insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC raised its stake in PACS Group by 93.1% in 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 during the period. SG Americas Securities LLC increased its holdings in shares of PACS Group by 36.7% in the fourth quarter. SG Americas Securities LLC now owns 14,278 shares of the company’s stock valued at $548,000 after purchasing an additional 3,837 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of PACS Group in the fourth quarter valued at $328,000. Strategic Advocates LLC bought a new position in shares of PACS Group in the third quarter valued at about $60,000. Finally, PharVision Advisers LLC bought a new position in shares of PACS Group in the third quarter valued at about $200,000.

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.