PACS Group (NYSE:PACS) Stock Price Down 8.8% – Here’s Why
by Jessica Moore · The Cerbat GemPACS Group, Inc. (NYSE:PACS – Get Free Report)’s stock price fell 8.8% during mid-day trading on Tuesday . The stock traded as low as $35.11 and last traded at $35.3440. 954,584 shares changed hands during trading, a decline of 21% from the average session volume of 1,206,819 shares. The stock had previously closed at $38.77.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PACS. Zacks Research downgraded PACS Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Truist Financial set a $40.00 target price on shares of PACS Group in a research note on Friday, December 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 target price on shares of PACS Group in a research report on Friday, December 19th. Wall Street Zen upgraded shares of PACS Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PACS Group in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PACS Group currently has an average rating of “Hold” and an average price target of $43.25.
Read Our Latest Analysis on PACS
PACS Group Price Performance
The firm has a market capitalization of $5.59 billion, a PE ratio of 33.98, a P/E/G ratio of 1.26 and a beta of -0.68. The firm’s fifty day moving average price is $32.49 and its 200 day moving average price is $19.23. 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 (NYSE:PACS – Get Free Report) last posted its earnings results on Wednesday, November 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.36). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.11 billion. PACS Group had a net margin of 3.29% and a return on equity of 21.39%. As a group, equities analysts forecast that PACS Group, Inc. will post 1.01 earnings per share for the current year.
Insider Transactions at PACS Group
In related news, Director Evelyn S. Dilsaver acquired 16,724 shares of the stock in a transaction on Monday, November 24th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $500,047.60. Following the transaction, the director owned 22,739 shares in the company, valued at approximately $679,896.10. This trade represents a 278.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $4,769,128.84. Following the transaction, the insider directly owned 755,836 shares of the company’s stock, valued at approximately $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 70.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PACS Group by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,939,725 shares of the company’s stock valued at $54,092,000 after purchasing an additional 85,183 shares in the last quarter. Crewe Advisors LLC increased its position in shares of PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after buying an additional 1,035,747 shares in the last quarter. Royce & Associates LP raised its stake in shares of PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after buying an additional 545,348 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after acquiring an additional 220,939 shares during the period.
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.