Vanguard Group Inc. Acquires 566,502 Shares of PACS Group, Inc. $PACS

Vanguard Group Inc. lifted its holdings in PACS Group, Inc. (NYSE:PACS) by 14.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,506,227 shares of the company’s stock after purchasing an additional 566,502 shares during the period. Vanguard Group Inc.’s holdings in PACS Group were worth $172,994,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PACS. Crewe Advisors LLC boosted its stake 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 worth $82,455,000 after buying an additional 1,035,747 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of PACS Group during the 3rd quarter worth about $11,904,000. Royce & Associates LP boosted its stake in shares of PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of PACS Group by 348.6% during the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after buying an additional 785,537 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after buying an additional 617,124 shares during the last quarter.

Insider Activity at PACS Group

In other news, COO Joshua Jergensen sold 36,335 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the transaction, the chief operating officer directly owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. This trade represents a 1.34% 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 this hyperlink. Corporate insiders own 70.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PACS shares. Zacks Research upgraded shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. UBS Group increased their price target on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a report on Sunday. Oppenheimer increased their price target on shares of PACS Group from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada increased their price target on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $44.40.

PACS Group Stock Down 0.0%

Shares of PACS opened at $33.59 on Monday. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The firm’s 50 day moving average is $34.37 and its 200-day moving average is $31.74. The stock has a market capitalization of $5.28 billion, a PE ratio of 27.31, a P/E/G ratio of 1.02 and a beta of -0.03. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

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.