PACS Group (NYSE:PACS) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down premarket from $35.27 to $32.97 and last traded around $33.33, roughly a 1.2% decline on light volume.
• Multiple analysts have upgraded the stock and the firm has a consensus "Buy" rating with an average price target of $44.40.
• The company's COO sold 36,335 shares (~$1.25M) recently, while insiders still own a large stake (70.40%), indicating insider liquidity despite concentrated ownership.

PACS Group, Inc. (NYSE:PACS - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $35.27, but opened at $32.97. PACS Group shares last traded at $33.3250, with a volume of 11,989 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on PACS Group from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of PACS Group from a "hold" rating to a "buy" rating in a research note on Sunday, February 15th. UBS Group boosted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Zacks Research upgraded shares of PACS Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 4th. Finally, Oppenheimer boosted their target price on shares of PACS Group from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, PACS Group presently has an average rating of "Buy" and a consensus target price of $44.40.

PACS Group Stock Down 1.2%

The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.08 and a beta of 0.06. The firm's fifty day moving average is $34.97 and its two-hundred day moving average is $31.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.07 and a quick ratio of 1.07.

Insiders Place Their Bets

In related news, COO Joshua Jergensen sold 36,335 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $34.28, for a total value of $1,245,563.80. Following the completion of the sale, the chief operating officer owned 2,667,347 shares of the company's stock, valued at $91,436,655.16. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 70.40% of the stock is owned by insiders.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently bought and sold shares of the stock. Jacobsen Capital Management lifted its holdings in PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after acquiring an additional 294 shares during the last quarter. Larson Financial Group LLC lifted its holdings in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $42,000 after acquiring an additional 612 shares during the last quarter. Hollencrest Capital Management acquired a new stake in PACS Group in the 4th quarter valued at about $27,000. Strategic Advocates LLC lifted its holdings in PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock valued at $203,000 after acquiring an additional 808 shares during the last quarter. Finally, Quarry LP lifted its holdings in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company's stock valued at $33,000 after acquiring an additional 1,058 shares during the last quarter.

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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