Olympiad Research LP Acquires New Position in PACS Group, Inc. $PACS

Olympiad Research LP acquired a new stake in shares of PACS Group, Inc. (NYSE:PACS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,181 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors also recently bought and sold shares of PACS. Cubist Systematic Strategies LLC bought a new stake in shares of PACS Group in the 1st quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PACS Group by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after purchasing an additional 1,443 shares during the period. Millennium Management LLC increased its stake in PACS Group by 68.3% during the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in PACS Group during the first quarter valued at $64,000. Finally, Caxton Associates LLP acquired a new stake in shares of PACS Group during the first quarter worth $163,000.

Insider Buying and Selling at PACS Group

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

PACS Group Price Performance

Shares of NYSE:PACS opened at $35.11 on Friday. The firm’s 50 day moving average is $33.94 and its two-hundred day moving average is $19.61. The firm has a market capitalization of $5.50 billion, a P/E ratio of 33.44, a PEG ratio of 1.17 and a beta of -0.68. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08.

PACS Group (NYSE:PACS) last issued its quarterly earnings data 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 business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. Analysts anticipate that PACS Group, Inc. will post 1.01 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PACS. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of PACS Group in a report on Friday, December 19th. Truist Financial set a $40.00 target price on shares of PACS Group in a report on Friday, December 12th. Wall Street Zen raised PACS Group from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Zacks Research cut PACS Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Finally, UBS Group reissued a “buy” rating and issued a $42.00 price target (down previously from $50.00) on shares of PACS Group in a report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PACS Group currently has an average rating of “Hold” and a consensus price target of $43.25.

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.