PACS Group, Inc. (NYSE:PACS) Position Boosted by Royce & Associates LP

Royce & Associates LP raised its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 97.4% during the 4th quarter, Holdings Channel reports. The fund owned 918,423 shares of the company’s stock after purchasing an additional 453,225 shares during the period. Royce & Associates LP’s holdings in PACS Group were worth $12,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its holdings in PACS Group by 651.3% during the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after buying an additional 54,932 shares during the period. Concentric Capital Strategies LP acquired a new stake in shares of PACS Group during the third quarter valued at approximately $3,970,000. Maven Securities LTD purchased a new stake in shares of PACS Group in the 3rd quarter valued at approximately $3,997,000. Wellington Management Group LLP boosted its stake in PACS Group by 60.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock worth $214,901,000 after purchasing an additional 2,025,835 shares during the period. Finally, Soros Fund Management LLC grew its position in PACS Group by 233.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock worth $19,985,000 after purchasing an additional 350,000 shares in the last quarter.

Wall Street Analyst Weigh In

PACS has been the topic of a number of research analyst reports. Stephens lowered their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Macquarie dropped their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Finally, Truist Financial dropped their price objective on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Price Performance

Shares of PACS stock opened at $12.30 on Tuesday. PACS Group, Inc. has a 1 year low of $11.55 and a 1 year high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $13.47 and its 200-day moving average is $23.02.

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.