PACS Group (NYSE:PACS) Reaches 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 stock traded as low as $8.59 and last traded at $8.68, with a volume of 110878 shares traded. The stock had previously closed at $9.26.

Analyst Upgrades and Downgrades

PACS has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Macquarie cut their price objective 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Performance

The firm’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $17.83. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in shares of PACS Group by 1.5% during the 4th quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock worth $127,437,000 after acquiring an additional 139,767 shares during the last quarter. Wellington Management Group LLP increased its position in PACS Group by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock worth $82,002,000 after purchasing an additional 878,358 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PACS Group by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock worth $51,516,000 after purchasing an additional 237,069 shares during the period. JPMorgan Chase & Co. lifted its holdings in PACS Group by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,350,842 shares of the company’s stock valued at $17,710,000 after buying an additional 78,122 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of PACS Group by 66,972.9% during the fourth quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock worth $14,579,000 after buying an additional 1,110,410 shares in the last quarter.

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.