Maven Securities LTD Takes $960,000 Position in PACS Group, Inc. $PACS

Maven Securities LTD purchased a new stake in shares of PACS Group, Inc. (NYSE:PACS) in the 4th quarter, Holdings Channel reports. The fund purchased 25,000 shares of the company’s stock, valued at approximately $960,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PACS. Alyeska Investment Group L.P. increased its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC increased its position 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 valued at $82,455,000 after purchasing an additional 1,035,747 shares during the last quarter. Royce & Associates LP increased its position 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 valued at $25,525,000 after purchasing an additional 806,446 shares during the last quarter. Marshall Wace LLP increased its position 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 valued at $13,880,000 after purchasing an additional 785,537 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position 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 valued at $14,595,000 after purchasing an additional 617,124 shares during the last quarter.

Insiders Place Their Bets

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares in the company, valued at $31,592,909.10. This represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is owned by insiders.

PACS Group Trading Down 0.2%

PACS Group stock opened at $36.23 on Tuesday. The firm has a 50 day moving average of $35.67 and a 200 day moving average of $35.91. The firm has a market capitalization of $5.73 billion and a price-to-earnings ratio of 23.22. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $43.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PACS shares. Oppenheimer upped their price target on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada increased their target price on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Truist Financial increased their target price on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.