VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.89 Million Investment in PACS Group, Inc. $PACS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PACS Group, Inc. (NYSE:PACS) in the second quarter, HoldingsChannel.com reports. The fund bought 44,400 shares of the company’s stock, valued at approximately $1,893,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PACS. Financial Management Professionals Inc. lifted its holdings in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the last quarter. Jacobsen Capital Management grew its stake in PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after buying an additional 294 shares during the last quarter. Larson Financial Group LLC increased its position in PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares during the period. Hollencrest Capital Management acquired a new stake in PACS Group in the fourth quarter worth $27,000. Finally, Strategic Advocates LLC lifted its stake in PACS Group by 18.5% in the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after buying an additional 808 shares during the last quarter.

PACS Group Price Performance

Shares of NYSE PACS opened at $44.71 on Friday. PACS Group, Inc. has a twelve month low of $8.98 and a twelve month high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $44.74 and a two-hundred day moving average of $39.09. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.40 and a beta of -0.13.

PACS Group (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. UBS Group upped their price target on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.80.

Insider Buying and Selling at PACS Group

In related news, CEO Jason Murray sold 91,306 shares of PACS Group stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52. Following the transaction, the chief executive officer directly owned 54,754,110 shares in the company, valued at $2,404,800,511.20. The trade was a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $36.34, for a total value of $5,569,250.36. Following the sale, the insider directly owned 54,449,343 shares in the company, valued at $1,978,689,124.62. This trade represents a 0.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,263,038 shares of company stock worth $52,600,000 in the last ninety days. 70.10% of the stock is owned by corporate insiders.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.