PACS Group Sees Unusually High Options Volume (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) was the target of unusually large options trading on Thursday. Stock traders purchased 18,485 put options on the stock. This is an increase of 2,095% compared to the average daily volume of 842 put options.

PACS Group Price Performance

NYSE:PACS traded down $0.24 during midday trading on Thursday, reaching $11.09. The stock had a trading volume of 222,761 shares, compared to its average volume of 807,284. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group has a 12-month low of $11.08 and a 12-month high of $43.92. The firm has a fifty day simple moving average of $13.24 and a two-hundred day simple moving average of $21.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PACS shares. Truist Financial decreased their target price on 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 target on shares of 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. reissued a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Institutional Trading of PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in PACS. State of Wyoming purchased a new position in shares of PACS Group during the 4th quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in PACS Group in the third quarter worth $251,000. KLP Kapitalforvaltning AS acquired a new stake in PACS Group in the fourth quarter valued at $126,000. Intech Investment Management LLC purchased a new stake in shares of PACS Group during the 3rd quarter worth $405,000. Finally, Savant Capital LLC acquired a new stake in shares of PACS Group in the fourth quarter valued at about $142,000.

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.