PACS Group, Inc. (NYSE:PACS) Shares Acquired by Seven Grand Managers LLC

Seven Grand Managers LLC raised its position in shares of PACS Group, Inc. (NYSE:PACS) by 100.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after buying an additional 75,000 shares during the quarter. PACS Group comprises 1.4% of Seven Grand Managers LLC’s portfolio, making the stock its 24th largest position. Seven Grand Managers LLC owned approximately 0.10% of PACS Group worth $5,996,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C acquired a new stake in shares of PACS Group during the second quarter worth $19,584,000. Lighthouse Investment Partners LLC bought a new stake in shares of PACS Group during the 2nd quarter valued at about $8,946,000. Millennium Management LLC acquired a new stake in PACS Group during the second quarter worth about $8,905,000. Ghisallo Capital Management LLC bought a new position in PACS Group in the second quarter worth about $8,850,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in PACS Group in the second quarter valued at approximately $7,513,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer increased their price target on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Macquarie initiated coverage on PACS Group in a research report on Friday, June 28th. They issued an “outperform” rating and a $35.00 target price on the stock. Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. Stephens upped their price target on shares of PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, UBS Group initiated coverage on shares of PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PACS Group has an average rating of “Buy” and an average price target of $39.38.

PACS Group Stock Up 2.4 %

PACS stock opened at $41.92 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The business has a 50-day moving average of $39.16. PACS Group, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $42.46.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42). The firm had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities research analysts predict that PACS Group, Inc. will post 1.03 EPS for the current year.

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.