150,000 Shares in PACS Group, Inc. (NYSE:PACS) Bought by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP purchased a new stake in PACS Group, Inc. (NYSE:PACS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 150,000 shares of the company’s stock, valued at approximately $4,425,000. Davidson Kempner Capital Management LP owned about 0.10% of PACS Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hood River Capital Management LLC acquired a new stake in shares of PACS Group in the 2nd quarter valued at approximately $4,862,000. Sei Investments Co. bought a new stake in PACS Group during the second quarter worth $4,662,000. Amalgamated Bank acquired a new stake in PACS Group in the second quarter valued at $25,000. Renaissance Technologies LLC bought a new position in shares of PACS Group in the 2nd quarter valued at about $1,195,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of PACS Group during the 2nd quarter worth about $552,000.

Analyst Ratings Changes

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

PACS Group Stock Performance

PACS opened at $40.77 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $37.10. PACS Group, Inc. has a 1 year low of $22.61 and a 1 year high of $42.25.

PACS Group (NYSE:PACS) last announced 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 for the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s revenue was up 29.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 1.03 EPS for the current year.

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.