UBS Group AG Sells 175,803 Shares of PACS Group, Inc. $PACS

Key Points

• UBS Group AG sharply reduced its PACS Group stake in the fourth quarter, selling 175,803 shares and cutting its holdings by 54.7% to 145,561 shares worth about $5.59 million.
• PACS Group posted stronger-than-expected quarterly results, reporting $0.50 EPS versus the $0.42 estimate and revenue of $1.42 billion versus $1.36 billion expected.
• Analysts remain mostly constructive on the stock, with recent target hikes from Truist, UBS, and Oppenheimer leaving PACS with a consensus rating of “Moderate Buy” and an average price target of $48.00.

UBS Group AG cut its holdings in PACS Group, Inc. (NYSE:PACS - Free Report) by 54.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,561 shares of the company's stock after selling 175,803 shares during the period. UBS Group AG owned approximately 0.09% of PACS Group worth $5,588,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Quarry LP lifted its position in shares of PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company's stock worth $33,000 after buying an additional 1,058 shares during the last quarter. Strategic Advocates LLC acquired a new position in shares of PACS Group during the 3rd quarter valued at about $60,000. State of Alaska Department of Revenue bought a new position in shares of PACS Group in the 3rd quarter valued at approximately $69,000. Sanctuary Advisors LLC bought a new position in shares of PACS Group in the 4th quarter valued at approximately $213,000. Finally, Jones Financial Companies Lllp acquired a new stake in PACS Group in the 1st quarter worth approximately $64,000.

PACS Group Price Performance

Shares of NYSE:PACS opened at $36.94 on Thursday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.12 and a beta of -0.03. The business has a 50 day moving average price of $34.44 and a 200 day moving average price of $33.31. 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 $43.08.

PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. Research analysts predict that PACS Group, Inc. will post 2.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Todd Mitchell sold 52,763 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares in the company, valued at $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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joshua Jergensen sold 36,335 shares of the 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 completion of the sale, the chief operating officer directly owned 2,667,347 shares of the company's stock, valued at approximately $91,436,655.16. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 116,487 shares of company stock worth $4,269,388 in the last ninety days. 70.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PACS has been the subject of a number of recent analyst reports. Truist Financial upped their target price on PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group boosted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Zacks Research downgraded shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of PACS Group from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, Oppenheimer lifted their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.00.

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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