16,181 Shares in PACS Group, Inc. $PACS Acquired by Olympiad Research LP

Olympiad Research LP bought a new position in PACS Group, Inc. (NYSE:PACS) in the third quarter, Holdings Channel.com reports. The fund bought 16,181 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of PACS Group by 120.4% in 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 in the last quarter. Geode Capital Management LLC raised its position in PACS Group by 11.5% in the second quarter. Geode Capital Management LLC now owns 952,358 shares of the company’s stock worth $12,306,000 after acquiring an additional 98,277 shares in the last quarter. Millennium Management LLC lifted 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 acquiring an additional 348,743 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of PACS Group by 18.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 435,184 shares of the company’s stock valued at $5,623,000 after purchasing an additional 68,142 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of PACS Group by 13.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 415,075 shares of the company’s stock worth $5,363,000 after purchasing an additional 49,090 shares during the last quarter.

PACS Group Price Performance

Shares of NYSE:PACS opened at $35.11 on Friday. The company’s fifty day moving average is $33.94 and its two-hundred day moving average is $19.61. The company has a market cap of $5.50 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 1.17 and a beta of -0.68. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $43.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In related news, insider John Todd Mitchell sold 159,556 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were 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 in the company, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of the company’s stock in a transaction on Monday, November 24th. The stock was bought at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the purchase, the director owned 22,739 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

Several research firms recently commented on PACS. Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a research note on Monday, December 22nd. Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. UBS Group reissued a “buy” rating and set a $42.00 price objective (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Zacks Research cut PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. began coverage on PACS Group in a report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 target price for the company. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.25.

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.