Hood River Capital Management LLC Invests $4.86 Million in PACS Group, Inc. (NYSE:PACS)

Hood River Capital Management LLC acquired a new stake in PACS Group, Inc. (NYSE:PACS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 164,798 shares of the company’s stock, valued at approximately $4,862,000. Hood River Capital Management LLC owned approximately 0.11% of PACS Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in PACS Group during the second quarter valued at about $2,445,000. Allspring Global Investments Holdings LLC bought a new stake in PACS Group during the 2nd quarter valued at approximately $7,513,000. Oppenheimer Asset Management Inc. acquired a new stake in PACS Group in the 2nd quarter valued at approximately $552,000. Rhumbline Advisers bought a new position in PACS Group in the 2nd quarter worth approximately $870,000. Finally, Renaissance Technologies LLC acquired a new position in shares of PACS Group during the second quarter worth approximately $1,195,000.

PACS Group Price Performance

NYSE:PACS opened at $40.37 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 12-month low of $22.61 and a 12-month high of $42.25. The business has a 50-day simple moving average of $37.28.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PACS shares. Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Truist Financial boosted their price objective on shares of PACS Group from $36.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Oppenheimer increased their target price on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Macquarie began coverage on PACS Group in a research note on Friday, June 28th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Stephens raised their price objective on PACS Group from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $37.57.

PACS Group 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.