Lisanti Capital Growth LLC Makes New Investment in PACS Group, Inc. (NYSE:PACS)

Lisanti Capital Growth LLC purchased a new position in PACS Group, Inc. (NYSE:PACS) during the third quarter, HoldingsChannel reports. The institutional investor purchased 106,565 shares of the company’s stock, valued at approximately $4,259,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in PACS Group in the 3rd quarter worth about $709,000. Amalgamated Bank boosted its stake in PACS Group by 56.7% in the 3rd quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after buying an additional 488 shares during the last quarter. US Bancorp DE lifted its stake in shares of PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after purchasing an additional 2,404 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of PACS Group by 152.2% in the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after purchasing an additional 834 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of PACS Group by 48.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after purchasing an additional 123,654 shares in the last quarter.

PACS Group Price Performance

PACS stock opened at $21.33 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group, Inc. has a 52-week low of $16.74 and a 52-week high of $43.92. The stock’s 50 day moving average is $38.52 and its two-hundred day moving average is $33.88.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.42). The business had revenue of $981.80 million during the quarter, compared to the consensus estimate of $919.22 million. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, analysts predict that PACS Group, Inc. will post 1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PACS. Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. UBS Group initiated coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price target on shares of PACS Group in a research report on Wednesday, November 6th. Stephens boosted their price target on PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Citigroup initiated coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $41.00.

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.