Trek Financial LLC Takes Position in PACS Group, Inc. (NYSE:PACS)

Trek Financial LLC purchased a new position in PACS Group, Inc. (NYSE:PACS) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 29,463 shares of the company’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC increased 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 purchasing an additional 54,932 shares during the last quarter. Wellington Management Group LLP raised its holdings in PACS Group by 60.5% in the third quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company’s stock valued at $214,901,000 after acquiring an additional 2,025,835 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in PACS Group by 5.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after acquiring an additional 70,786 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PACS Group by 78.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock valued at $13,070,000 after acquiring an additional 143,389 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in PACS Group by 526.1% during the 4th quarter. Teacher Retirement System of Texas now owns 56,210 shares of the company’s stock worth $737,000 after acquiring an additional 47,232 shares in the last quarter.

PACS Group Trading Up 0.3 %

Shares of NYSE PACS opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The firm’s 50-day moving average price is $12.65 and its two-hundred day moving average price is $20.02. PACS Group, Inc. has a 52-week low of $9.00 and a 52-week high of $43.92.

Analyst Upgrades and Downgrades

PACS has been the topic of a number of recent analyst reports. Truist Financial cut their target price 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. 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 note on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group 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.