Ghisallo Capital Management LLC Makes New Investment in PACS Group, Inc. (NYSE:PACS)

Ghisallo Capital Management LLC purchased a new stake in PACS Group, Inc. (NYSE:PACS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 300,000 shares of the company’s stock, valued at approximately $8,850,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Amalgamated Bank bought a new position in PACS Group in the 2nd quarter valued at $25,000. Sandia Investment Management LP acquired a new position in shares of PACS Group during the second quarter valued at $295,000. The Manufacturers Life Insurance Company bought a new position in PACS Group in the second quarter valued at about $302,000. Oppenheimer Asset Management Inc. acquired a new stake in PACS Group in the second quarter worth about $552,000. Finally, Marshall Wace LLP bought a new stake in PACS Group during the 2nd quarter worth about $733,000.

Wall Street Analysts Forecast Growth

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

PACS Group Price Performance

NYSE:PACS opened at $38.88 on Wednesday. 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 50-day simple moving average of $37.97. PACS Group, Inc. has a 1 year low of $22.61 and a 1 year high of $42.25.

PACS Group (NYSE:PACS) last posted 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 company had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. PACS Group’s revenue was up 29.1% compared to the same quarter last year. Research analysts expect that PACS Group, Inc. will post 1.03 earnings per share for the current fiscal 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.