PACS Group (NYSE:PACS) Sets New 12-Month Low – Time to Sell?

PACS Group, Inc. (NYSE:PACS)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $12.71 and last traded at $12.77, with a volume of 43284 shares traded. The stock had previously closed at $13.01.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PACS shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Stephens decreased their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Citigroup started coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. Truist Financial raised their price target on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, UBS Group initiated coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

PACS Group Trading Down 0.3 %

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 company’s 50 day moving average price is $24.64 and its two-hundred day moving average price is $31.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of PACS Group during the 3rd quarter valued at $472,000. Geode Capital Management LLC grew its holdings in PACS Group by 65.2% during the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock valued at $33,359,000 after purchasing an additional 329,288 shares during the period. Barclays PLC increased its position in PACS Group by 651.3% in the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after buying an additional 54,932 shares in the last quarter. Zimmer Partners LP raised its stake in shares of PACS Group by 191.2% in the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after buying an additional 1,529,529 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of PACS Group by 63.2% during the 3rd quarter. Jane Street Group LLC now owns 38,746 shares of the company’s stock valued at $1,549,000 after buying an additional 15,003 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.