PACS Group (NYSE:PACS) Sees Strong Trading Volume – Time to Buy?

PACS Group, Inc. (NYSE:PACS) shares saw unusually-strong trading volume on Monday . Approximately 963,960 shares were traded during trading, an increase of 15% from the previous session’s volume of 840,880 shares.The stock last traded at $34.8280 and had previously closed at $33.41.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PACS. Royal Bank Of Canada raised their price target on shares of PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a report on Wednesday, November 26th. Finally, Wall Street Zen cut PACS Group from a “buy” rating to a “hold” rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

PACS Group Trading Down 1.3%

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50-day moving average price is $16.13 and its 200-day moving average price is $13.09. The firm has a market capitalization of $4.86 billion, a PE ratio of 29.58 and a beta of -0.63.

PACS Group (NYSE:PACS) last posted its earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.36). PACS Group had a net margin of 3.29% and a return on equity of 21.39%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.11 billion. As a group, analysts expect that PACS Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at PACS Group

In other news, Director Evelyn S. Dilsaver bought 16,724 shares of PACS Group stock in a transaction on Monday, November 24th. The shares were bought at an average price of $29.90 per share, with a total value of $500,047.60. Following the acquisition, the director directly owned 22,739 shares in the company, valued at approximately $679,896.10. This represents a 278.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Todd Mitchell sold 159,556 shares of PACS Group stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $29.89, for a total value of $4,769,128.84. Following the sale, the insider directly owned 755,836 shares in the company, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP increased its position in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares during the period. Strategic Advocates LLC acquired a new position in shares of PACS Group during the 3rd quarter worth approximately $60,000. Jones Financial Companies Lllp bought a new position in shares of PACS Group during the first quarter worth approximately $64,000. State of Alaska Department of Revenue acquired a new stake in shares of PACS Group in the third quarter valued at approximately $69,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of PACS Group by 289.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company’s stock valued at $80,000 after buying an additional 4,581 shares during the period.

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.