PACS Group (NYSE:PACS) Shares Gap Down – Here’s What Happened

Shares of PACS Group, Inc. (NYSE:PACS) gapped down before the market opened on Tuesday . The stock had previously closed at $11.24, but opened at $11.00. PACS Group shares last traded at $10.72, with a volume of 101,807 shares trading hands.

Analyst Upgrades and Downgrades

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

PACS Group Trading Down 5.7 %

The business has a 50-day moving average price of $12.93 and a 200-day moving average price of $20.83. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PACS. State of Wyoming bought a new stake in PACS Group in the fourth quarter valued at about $47,000. KLP Kapitalforvaltning AS acquired a new position in shares of PACS Group in the 4th quarter worth approximately $126,000. Savant Capital LLC acquired a new position in shares of PACS Group in the 4th quarter worth approximately $142,000. ProShare Advisors LLC lifted its position in shares of PACS Group by 45.4% during the 4th quarter. ProShare Advisors LLC now owns 10,855 shares of the company’s stock worth $142,000 after buying an additional 3,391 shares during the period. Finally, XTX Topco Ltd acquired a new stake in PACS Group in the 4th quarter valued at $161,000.

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.