PACS Group (NYSE:PACS) Reaches New 52-Week Low – Here’s What Happened

Shares of PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $8.59 and last traded at $8.68, with a volume of 110878 shares trading hands. The stock had previously closed at $9.26.

Analysts Set New Price Targets

PACS has been the subject of a number of analyst reports. Truist Financial reduced their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Macquarie dropped their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Trading Down 10.5 %

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 company has a 50 day moving average of $11.59 and a 200-day moving average of $17.83.

Institutional Investors Weigh In On PACS Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its stake in shares of PACS Group by 1.5% in the 4th quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock valued at $127,437,000 after purchasing an additional 139,767 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PACS Group by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock valued at $82,002,000 after acquiring an additional 878,358 shares during the period. Vanguard Group Inc. boosted its holdings in PACS Group by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock valued at $51,516,000 after purchasing an additional 237,069 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in PACS Group by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,350,842 shares of the company’s stock valued at $17,710,000 after purchasing an additional 78,122 shares during the period. Finally, Crewe Advisors LLC increased its position in shares of PACS Group by 66,972.9% during the fourth quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock worth $14,579,000 after purchasing an additional 1,110,410 shares in the last quarter.

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.