PACS Group, Inc. (NYSE:PACS) Short Interest Down 21.6% in February

PACS Group, Inc. (NYSE:PACS) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 2,730,000 shares, a drop of 21.6% from the January 31st total of 3,480,000 shares. Based on an average daily trading volume, of 750,000 shares, the short-interest ratio is currently 3.6 days. Approximately 7.1% of the shares of the company are sold short.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Cohen & Steers Inc. lifted its position in shares of PACS Group by 1.5% in the fourth quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock valued at $127,437,000 after acquiring an additional 139,767 shares in the last quarter. Wellington Management Group LLP boosted its stake in PACS Group by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock worth $82,002,000 after buying an additional 878,358 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of PACS Group by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock worth $51,516,000 after acquiring an additional 237,069 shares during the last quarter. Zimmer Partners LP boosted its holdings in shares of PACS Group by 191.2% in the 3rd quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares during the last quarter. Finally, FMR LLC raised its position in shares of PACS Group by 174.4% in the 3rd quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after buying an additional 1,043,399 shares during the period.

PACS Group Trading Down 2.3 %

Shares of PACS traded down $0.30 on Tuesday, reaching $12.77. The stock had a trading volume of 74,273 shares, compared to its average volume of 547,089. PACS Group has a twelve month low of $12.38 and a twelve month high of $43.92. The firm has a 50-day moving average of $13.59 and a 200 day moving average of $24.96. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens cut their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Macquarie reduced their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Truist Financial dropped their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Company 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.