Cohen & Steers Inc. Has $364.67 Million Stake in PACS Group, Inc. $PACS

Cohen & Steers Inc. lowered its position in PACS Group, Inc. (NYSE:PACS) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,497,777 shares of the company’s stock after selling 108,750 shares during the period. Cohen & Steers Inc. owned 0.06% of PACS Group worth $364,665,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after purchasing an additional 566,502 shares during the period. Crewe Advisors LLC lifted its position in shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after purchasing an additional 1,035,747 shares during the period. Royce & Associates LP lifted its position in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after purchasing an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after purchasing an additional 220,939 shares during the period.

Insider Activity

In other news, insider John Todd Mitchell sold 27,389 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the sale, the insider owned 803,566 shares in the company, valued at $29,860,512.56. This represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 70.10% of the stock is currently owned by insiders.

PACS Group Stock Performance

Shares of PACS stock opened at $36.39 on Friday. The firm has a market capitalization of $5.76 billion and a PE ratio of 23.33. The firm has a fifty day simple moving average of $35.58 and a two-hundred day simple moving average of $35.83. 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, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The business 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%. Analysts forecast that PACS Group, Inc. will post 2.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Oppenheimer boosted their target price 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. Finally, UBS Group boosted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.