Trek Financial LLC Takes Position in PACS Group, Inc. (NYSE:PACS)

Trek Financial LLC acquired a new stake in shares of PACS Group, Inc. (NYSE:PACS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,463 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of PACS Group during the fourth quarter worth about $126,000. Savant Capital LLC purchased a new stake in PACS Group in the 4th quarter worth approximately $142,000. ExodusPoint Capital Management LP purchased a new stake in PACS Group in the 4th quarter worth approximately $174,000. Arizona State Retirement System raised its holdings in PACS Group by 53.9% in the 4th quarter. Arizona State Retirement System now owns 13,510 shares of the company’s stock valued at $177,000 after acquiring an additional 4,734 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of PACS Group during the fourth quarter worth $179,000.

PACS Group Trading Up 0.3 %

NYSE PACS opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group, Inc. has a one year low of $9.00 and a one year high of $43.92. The company’s 50 day moving average price is $12.65 and its 200 day moving average price is $20.02.

Analysts Set New Price Targets

PACS has been the subject of several analyst reports. Macquarie dropped their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Truist Financial cut their price objective on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group 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.