PACS Group Sees Unusually Large Options Volume (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) saw some unusual options trading activity on Monday. Investors purchased 3,976 call options on the stock. This is an increase of approximately 298% compared to the typical volume of 1,000 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PACS shares. JPMorgan Chase & Co. lifted their price objective on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. Oppenheimer lifted their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, UBS Group upped their price target on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.80.

PACS Group Stock Performance

PACS opened at $42.25 on Wednesday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.34 and a beta of -0.13. The business’s 50-day moving average price is $44.20 and its two-hundred day moving average price is $39.55. PACS Group has a 1 year low of $10.31 and a 1 year high of $49.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Equities analysts expect that PACS Group will post 2.13 EPS for the current fiscal year.

Insider Activity at PACS Group

In related news, Director Mark Hancock sold 155,682 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $42.47, for a total value of $6,611,814.54. Following the completion of the sale, the director owned 53,518,884 shares in the company, valued at $2,272,947,003.48. This represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 40,000 shares of PACS Group stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $43.13, for a total value of $1,725,200.00. Following the transaction, the chief operating officer owned 2,496,320 shares in the company, valued at approximately $107,666,281.60. This represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,097,375 shares of company stock worth $48,316,565 in the last quarter. Corporate insiders own 70.10% of the company’s stock.

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after purchasing an additional 614,250 shares in the last quarter. 8 Knots Management LLC acquired a new stake in PACS Group in the 4th quarter valued at $23,421,000. Sei Investments Co. lifted its position in PACS Group by 7.4% during the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock worth $11,900,000 after buying an additional 25,462 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in PACS Group by 44.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock worth $9,274,000 after buying an additional 89,067 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in PACS Group during the 1st quarter worth about $6,762,000.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.