PACS Group (NYSE:PACS) Shares Down 8% – Time to Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price dropped 8% during mid-day trading on Wednesday . The stock traded as low as $39.13 and last traded at $41.22. 308,117 shares changed hands during trading, a decline of 67% from the average session volume of 931,847 shares. The stock had previously closed at $44.81.

Analyst Ratings Changes

A number of research firms have recently commented on PACS. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Oppenheimer upped their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, UBS Group increased their target price on PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average price target of $50.60.

PACS Group Stock Up 3.7%

The company has a market cap of $7.35 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. 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’s fifty day moving average is $41.20 and its two-hundred day moving average is $37.66.

PACS Group (NYSE:PACS) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Equities analysts predict that PACS Group, Inc. will post 2.23 EPS for the current year.

Insider Buying and Selling

In related news, CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the sale, the chief accounting officer owned 355,338 shares in the company, valued at approximately $16,004,423.52. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Hancock sold 4,966 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director directly owned 53,920,512 shares in the company, valued at approximately $2,429,658,270.72. This trade represents a 0.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 796,524 shares of company stock valued at $31,611,396 in the last quarter. 70.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. grew its position in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after buying an additional 235 shares in the last quarter. Jacobsen Capital Management raised its holdings in shares of PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after acquiring an additional 294 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares in the last quarter. Hollencrest Capital Management purchased a new stake in PACS Group in the fourth quarter worth about $27,000. Finally, Strategic Advocates LLC lifted its stake in PACS Group by 18.5% in the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after acquiring an additional 808 shares during the period.

About PACS Group

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.