Crewe Advisors LLC Has $82.46 Million Stock Holdings in PACS Group, Inc. $PACS

Key Points

• Crewe Advisors raised its stake in PACS Group by 93.1% in Q4 to 2,147,815 shares worth about $82.46 million, representing 1.37% of PACS and ~7.3% of Crewe's portfolio (its second-largest holding).
• COO Joshua Jergensen sold 36,335 shares at an average $34.28 for roughly $1.25 million, cutting his position by 1.34%; insiders collectively own about 70.40% of the stock.
• Analyst sentiment is positive with a MarketBeat consensus of Buy and an average target of $44.40, after multiple price-target raises including RBC to $52, UBS to $44, and Oppenheimer to $42.

Crewe Advisors LLC increased its stake in PACS Group, Inc. (NYSE:PACS - Free Report) by 93.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,147,815 shares of the company's stock after purchasing an additional 1,035,747 shares during the quarter. PACS Group comprises about 7.3% of Crewe Advisors LLC's holdings, making the stock its 2nd largest position. Crewe Advisors LLC owned 1.37% of PACS Group worth $82,455,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PACS. SG Americas Securities LLC boosted its stake in PACS Group by 36.7% in the 4th quarter. SG Americas Securities LLC now owns 14,278 shares of the company's stock worth $548,000 after purchasing an additional 3,837 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of PACS Group during the fourth quarter valued at about $328,000. Strategic Advocates LLC purchased a new stake in shares of PACS Group in the third quarter worth about $60,000. PharVision Advisers LLC bought a new position in shares of PACS Group in the third quarter valued at approximately $200,000. Finally, Zimmer Partners LP boosted its position in shares of PACS Group by 27.4% in the third quarter. Zimmer Partners LP now owns 302,500 shares of the company's stock valued at $4,153,000 after acquiring an additional 65,000 shares during the period.

Insider Activity at PACS Group

In other news, COO Joshua Jergensen sold 36,335 shares of the firm's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $34.28, for a total transaction of $1,245,563.80. Following the sale, the chief operating officer owned 2,667,347 shares in the company, valued at approximately $91,436,655.16. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 70.40% of the stock is owned by insiders.

PACS Group Trading Up 1.2%

Shares of PACS opened at $32.06 on Friday. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $43.08. The company has a market capitalization of $5.04 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.01 and a beta of 0.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07. The firm's 50 day simple moving average is $35.82 and its 200 day simple moving average is $28.07.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Truist Financial set a $40.00 price target on shares of PACS Group in a research report on Friday, December 12th. Royal Bank Of Canada upped their price target on shares of PACS Group from $47.00 to $52.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Oppenheimer increased their price objective on PACS Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of PACS Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $44.40.

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.

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