PACS Group, Inc. $PACS Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments increased its PACS Group position by 7.4% in the first quarter, owning 370,501 shares valued at approximately $11.9 million. Other major institutions, including Vanguard and Alyeska Investment Group, also substantially raised their holdings.
• Company insiders sold 796,524 shares worth approximately $31.6 million over the past 90 days, though insiders still own 70.1% of PACS Group. The disclosed sales were conducted under pre-arranged Rule 10b5-1 trading plans.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $50.60, while PACS reported quarterly earnings of $0.50 per share and revenue of $1.42 billion, exceeding estimates.

Sei Investments Co. boosted its holdings in shares of PACS Group, Inc. (NYSE:PACS - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 370,501 shares of the company's stock after purchasing an additional 25,462 shares during the quarter. Sei Investments Co. owned approximately 0.23% of PACS Group worth $11,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PACS. Vanguard Group Inc. grew its position in shares of PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company's stock worth $172,994,000 after buying an additional 566,502 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock valued at $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC boosted its stake in PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock valued at $82,455,000 after acquiring an additional 1,035,747 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in 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 worth $18,621,000 after acquiring an additional 545,348 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company's stock worth $18,543,000 after purchasing an additional 220,939 shares during the last quarter.

Insider Buying and Selling at PACS Group

In other PACS Group news, insider John Todd Mitchell sold 52,763 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26. Following the completion of the transaction, the insider owned 830,955 shares in the company, valued at approximately $31,592,909.10. This represents a 5.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Renee Lewis sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00. Following the completion of the sale, the chief accounting officer owned 370,338 shares in the company, valued at $14,817,223.38. The trade was a 3.89% decrease in their position. 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 796,524 shares of company stock valued at $31,611,396 in the last ninety days. Company insiders own 70.10% of the company's stock.

Analyst Ratings Changes

PACS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research note on Monday, June 15th. Zacks Research cut PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Truist Financial increased their target price on PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, May 18th. UBS Group boosted their price target on PACS Group from $50.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Oppenheimer upped their price target on PACS Group from $42.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.60.

PACS Group Stock Performance

Shares of PACS opened at $46.12 on Friday. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $48.00. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.40 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average of $40.94 and a 200-day moving average of $37.64.

PACS Group (NYSE:PACS - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.36 billion. As a group, equities analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current year.

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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