Dimensional Fund Advisors LP Acquires 614,250 Shares of PACS Group, Inc. $PACS

Key Points

• Dimensional Fund Advisors increased its PACS Group stake by 370.2%, purchasing 614,250 additional shares to hold 780,159 shares worth approximately $25.1 million. Other institutional investors, including Millennium Management, also expanded their positions.
• Analyst sentiment remains positive, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $50.60. UBS raised its target to $57, while Oppenheimer increased its target to $48.
• PACS reported quarterly EPS of $0.63, exceeding the $0.54 consensus, while revenue reached $1.43 billion. The stock opened at $45.55, near its 12-month high of $48, although insiders have sold roughly $31.6 million of shares over the past 90 days.

Dimensional Fund Advisors LP boosted its stake in PACS Group, Inc. (NYSE:PACS - Free Report) by 370.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 780,159 shares of the company's stock after purchasing an additional 614,250 shares during the period. Dimensional Fund Advisors LP owned about 0.50% of PACS Group worth $25,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in PACS Group during the 1st quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company's stock valued at $262,000 after buying an additional 1,443 shares during the last quarter. Millennium Management LLC grew its position in shares of PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company's stock valued at $9,658,000 after buying an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group in the first quarter valued at about $64,000. Finally, Caxton Associates LLP bought a new position in shares of PACS Group during the first quarter worth about $163,000.

Analysts Set New Price Targets

A number of research firms have weighed in on PACS. Wall Street Zen raised shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 15th. Oppenheimer boosted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Finally, UBS Group increased their price target on PACS Group from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.60.

PACS Group Stock Performance

NYSE:PACS opened at $45.55 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $48.00. The company has a fifty day moving average of $41.32 and a 200-day moving average of $37.71. The firm has a market capitalization of $7.21 billion, a P/E ratio of 26.48, a P/E/G ratio of 1.34 and a beta of -0.08.

PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly 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. PACS Group had a net margin of 4.85% and a return on equity of 30.77%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.41 billion. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current year.

Insider Buying and Selling

In other PACS Group news, CAO Michelle Renee Lewis sold 15,000 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total value of $600,150.00. Following the transaction, the chief accounting officer directly owned 370,338 shares of the company's stock, valued at approximately $14,817,223.38. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hancock sold 153,254 shares of PACS Group stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the transaction, the insider owned 54,449,343 shares of the company's stock, valued at $1,978,689,124.62. This represents a 0.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 796,524 shares of company stock worth $31,611,396 in the last ninety days. Corporate insiders own 70.10% of the company's stock.

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.

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