HBK Investments L P Lowers Holdings in PACS Group, Inc. (NYSE:PACS)

HBK Investments L P reduced its stake in shares of PACS Group, Inc. (NYSE:PACS) by 33.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 50,000 shares during the period. HBK Investments L P’s holdings in PACS Group were worth $3,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lisanti Capital Growth LLC purchased a new stake in PACS Group in the 3rd quarter worth $4,259,000. GSA Capital Partners LLP bought a new position in PACS Group during the third quarter valued at approximately $1,229,000. Davidson Kempner Capital Management LP purchased a new position in PACS Group during the 2nd quarter valued at approximately $4,425,000. Bank of New York Mellon Corp bought a new stake in PACS Group in the 2nd quarter worth approximately $2,445,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of PACS Group during the 2nd quarter worth approximately $7,513,000.

PACS Group Trading Down 0.4 %

Shares of PACS opened at $16.55 on Friday. PACS Group, Inc. has a twelve month low of $16.09 and a twelve month high of $43.92. 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 company’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $33.07.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PACS shares. Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a report on Wednesday, November 6th. Truist Financial boosted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stephens lowered 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. Finally, Oppenheimer increased their price target on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $39.88.

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.