Y Intercept Hong Kong Ltd Cuts Stake in PACS Group, Inc. $PACS

Y Intercept Hong Kong Ltd cut its stake in shares of PACS Group, Inc. (NYSE:PACS) by 53.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 32,568 shares of the company’s stock after selling 37,503 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PACS Group were worth $447,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in PACS Group in the 1st quarter worth about $64,000. State of Alaska Department of Revenue purchased a new position in PACS Group in the third quarter worth about $69,000. Tower Research Capital LLC TRC lifted its stake in shares of PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock worth $80,000 after buying an additional 4,581 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of PACS Group by 27.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company’s stock worth $134,000 after buying an additional 2,199 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of PACS Group during the third quarter valued at approximately $143,000.

PACS Group Stock Down 2.7%

PACS Group stock opened at $35.77 on Thursday. The stock has a market cap of $5.60 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.23 and a beta of -0.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The stock has a fifty day moving average of $36.13 and a 200 day moving average of $21.07.

PACS Group (NYSE:PACS) last announced its earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a return on equity of 21.39% and a net margin of 3.29%.The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.11 billion. As a group, sell-side analysts predict that PACS Group, Inc. will post 1.01 EPS for the current year.

Insider Activity at PACS Group

In other news, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction 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 transaction, the insider owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Evelyn S. Dilsaver acquired 16,724 shares of PACS Group stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $29.90 per share, with a total value of $500,047.60. Following the completion of the purchase, the director directly owned 22,739 shares in the company, valued at $679,896.10. This represents a 278.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 70.40% of the company’s stock.

Analyst Ratings Changes

PACS has been the subject of a number of recent analyst reports. UBS Group restated a “buy” rating and issued a $42.00 price objective (down from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of PACS Group in a report on Friday, December 19th. Truist Financial set a $40.00 price target on PACS Group in a report on Friday, December 12th. JPMorgan Chase & Co. began coverage on PACS Group in a research report on Wednesday, December 17th. They set an “overweight” rating and a $44.00 price objective on the stock. Finally, Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.