Recent discussions on X surrounding PACS Group, Inc. have been ignited by the company's announcement of a financial restatement for Q1 and Q2 of 2024, primarily due to overstated revenue from Medicare Part B respiratory and therapy services. Many users have highlighted the significant stock price surge of over 17% following the update that an audit committee investigation is substantially complete, with no issues found regarding the integrity of key leadership roles. The revelation of an estimated $46-48 million revenue overstatement has sparked intense debates about the company’s financial transparency.
While some on X express cautious optimism about the audit’s findings on leadership, others are focusing on the implications of the restated financials and what it could mean for future investor confidence. Posts on the platform reflect a mix of reactions, with some pointing to the stock’s sharp rise as a potential sign of market relief, while others question the long-term impact of such discrepancies. This unfolding situation continues to keep PACS in the spotlight as investors and analysts weigh the balance between the positive audit outcome and the financial adjustments.
Note: This discussion summary was generated from an AI condensation of post data.
PACS Group, Inc. Hedge Fund Activity
We have seen 77 institutional investors add shares of PACS Group, Inc. stock to their portfolio, and 111 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WASATCH ADVISORS LP removed 1,949,908 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $25,563,293
- GHISALLO CAPITAL MANAGEMENT LLC removed 1,095,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $14,355,450
- INVESCO LTD. removed 954,720 shares (-98.5%) from their portfolio in Q1 2025, for an estimated $10,731,052
- CAPITAL INTERNATIONAL INVESTORS removed 924,925 shares (-53.8%) from their portfolio in Q1 2025, for an estimated $10,396,157
- MAN GROUP PLC removed 726,871 shares (-97.6%) from their portfolio in Q1 2025, for an estimated $8,170,030
- DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) removed 663,851 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $8,703,086
- SOROS FUND MANAGEMENT LLC removed 500,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,555,000
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.
