PACS Group (NYSE:PACS) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of PACS Group (NYSE:PACS) from a buy rating to a hold rating in a report issued on Saturday morning.

PACS has been the topic of a number of other research reports. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Oppenheimer lifted their price objective on shares of PACS Group from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Royal Bank Of Canada lifted their price objective on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, UBS Group lifted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, PACS Group has an average rating of “Buy” and a consensus target price of $44.40.

PACS Group Stock Down 1.6%

Shares of NYSE PACS opened at $33.02 on Friday. PACS Group has a one year low of $7.50 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07. The business’s fifty day moving average price is $34.75 and its 200-day moving average price is $31.17. The stock has a market capitalization of $5.19 billion, a PE ratio of 26.85, a P/E/G ratio of 1.01 and a beta of -0.02.

Insider Transactions at PACS Group

In related news, COO Joshua Jergensen sold 36,335 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares of the company’s stock, valued at approximately $91,436,655.16. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Jacobsen Capital Management grew its position in shares of PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after purchasing an additional 294 shares in the last quarter. Larson Financial Group LLC grew its position in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. Hollencrest Capital Management purchased a new position in PACS Group during the fourth quarter worth about $27,000. Strategic Advocates LLC grew its position in PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after buying an additional 808 shares in the last quarter. Finally, Peterson Wealth Services grew its position in PACS Group by 1.6% during the first quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock worth $1,724,000 after buying an additional 854 shares in the last quarter.

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.