PACS Group (NYSE:PACS) Sets New 1-Year Low – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $14.14 and last traded at $14.41, with a volume of 100451 shares changing hands. The stock had previously closed at $15.18.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PACS shares. Citigroup initiated coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. Truist Financial lifted their price target on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stephens reduced their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a research note on Tuesday. Finally, UBS Group initiated coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective for the company. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.13.

PACS Group Trading Down 6.2 %

The business has a 50-day moving average of $25.67 and a 200 day moving average of $31.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Lisanti Capital Growth LLC purchased a new position in PACS Group in the third quarter worth about $4,259,000. Concentric Capital Strategies LP purchased a new stake in PACS Group during the 3rd quarter valued at $3,970,000. Maven Securities LTD purchased a new position in PACS Group during the third quarter worth $3,997,000. Wellington Management Group LLP increased its position in PACS Group by 60.5% during 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 during the last quarter. Finally, Soros Fund Management LLC boosted its stake in shares of 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 during the period.

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.