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

PACS Group, Inc. (NYSE:PACS)’s share price reached a new 52-week low on Thursday . The stock traded as low as $11.09 and last traded at $11.34, with a volume of 325450 shares traded. The stock had previously closed at $11.36.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PACS shares. Macquarie decreased 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 note on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Truist Financial dropped their price target 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 analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Trading Down 1.3 %

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 business’s fifty day moving average is $13.13 and its 200 day moving average is $21.56.

Institutional Trading of PACS Group

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of PACS Group by 2.5% during the 4th quarter. Rhumbline Advisers now owns 50,540 shares of the company’s stock worth $663,000 after acquiring an additional 1,217 shares during the period. MetLife Investment Management LLC boosted its position in PACS Group by 6.6% during the fourth quarter. MetLife Investment Management LLC now owns 24,539 shares of the company’s stock worth $322,000 after purchasing an additional 1,527 shares during the period. Wells Fargo & Company MN increased its stake in shares of PACS Group by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 34,317 shares of the company’s stock worth $450,000 after purchasing an additional 2,196 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of PACS Group by 20.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,524 shares of the company’s stock worth $204,000 after purchasing an additional 2,598 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of PACS Group by 1.4% in the fourth quarter. Bank of America Corp DE now owns 189,886 shares of the company’s stock valued at $2,489,000 after purchasing an additional 2,702 shares during the period.

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.