Universal Beteiligungs und Servicegesellschaft mbH Reduces Position in PACS Group, Inc. $PACS

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in PACS Group, Inc. (NYSE:PACS) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 333,443 shares of the company’s stock after selling 43,621 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in PACS Group were worth $4,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in PACS Group during the first quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 1,443 shares during the last quarter. Millennium Management LLC raised its holdings in PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp purchased a new stake in PACS Group in the 1st quarter valued at about $64,000. Finally, Caxton Associates LLP acquired a new position in PACS Group in the first quarter valued at about $163,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Zacks Research lowered PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of PACS Group in a report on Monday, December 22nd. Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. began coverage on PACS Group in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 target price for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of PACS Group in a research note on Friday, December 19th. Three equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.25.

PACS Group Stock Down 1.8%

PACS stock opened at $34.40 on Wednesday. The company has a fifty day moving average price of $35.21 and a 200 day moving average price of $20.18. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 1.14 and a beta of -0.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94.

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

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 transaction of $4,769,128.84. Following the completion of the sale, the insider directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were bought at an average cost of $29.90 per share, with a total value of $500,047.60. Following the completion of the transaction, the director directly owned 22,739 shares in the company, valued at $679,896.10. This trade represents a 278.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 70.40% of the company’s stock.

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.