UBS Group AG Sells 175,803 Shares of PACS Group, Inc. $PACS

UBS Group AG lessened its position in shares of PACS Group, Inc. (NYSE:PACS) by 54.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,561 shares of the company’s stock after selling 175,803 shares during the quarter. UBS Group AG’s holdings in PACS Group were worth $5,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of PACS Group in the fourth quarter valued at $213,000. Vanguard Group Inc. increased its holdings in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares during the period. Crewe Advisors LLC increased its holdings 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 buying an additional 1,035,747 shares during the period. SG Americas Securities LLC raised its stake in shares of PACS Group by 36.7% in the 4th quarter. SG Americas Securities LLC now owns 14,278 shares of the company’s stock valued at $548,000 after buying an additional 3,837 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of PACS Group in the 4th quarter valued at $328,000.

Insider Activity at PACS Group

In related news, insider John Todd Mitchell sold 27,389 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.16, for a total transaction of $1,017,775.24. Following the completion of the sale, the insider directly owned 803,566 shares of the company’s stock, valued at $29,860,512.56. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of PACS Group stock in a transaction on Friday, March 13th. The shares were sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the transaction, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. The trade was a 1.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 116,487 shares of company stock valued at $4,269,388. Company insiders own 70.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PACS shares. Wall Street Zen upgraded shares of PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Oppenheimer increased their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Royal Bank Of Canada lifted their price objective on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Finally, UBS Group upped their price objective on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

PACS Group Stock Up 0.6%

Shares of NYSE PACS opened at $36.94 on Thursday. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day moving average of $34.44 and a two-hundred day moving average of $33.31. The stock has a market cap of $5.85 billion, a PE ratio of 23.68, a PEG ratio of 1.12 and a beta of -0.03.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.19 earnings per share for the current fiscal year.

PACS Group Company 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.