PACS Group (NYSE:PACS) Reaches New 52-Week Low – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $10.61 and last traded at $10.83, with a volume of 615342 shares changing hands. The stock had previously closed at $11.24.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial decreased 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 report on Monday, January 6th. Macquarie decreased their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report 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 note 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 stock. According to data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Performance

The stock has a fifty day moving average of $13.01 and a two-hundred day moving average of $20.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Trading of PACS Group

A number of institutional investors and hedge funds have recently bought and sold shares of PACS. Barclays PLC grew its stake in PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after buying an additional 54,932 shares during the period. Concentric Capital Strategies LP purchased a new stake in PACS Group during the 3rd quarter worth $3,970,000. Maven Securities LTD acquired a new stake in PACS Group in the 3rd quarter valued at $3,997,000. Wellington Management Group LLP raised its position 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 purchasing an additional 2,025,835 shares during the period. Finally, Soros Fund Management LLC boosted its position in shares of PACS Group by 233.3% in the third quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock worth $19,985,000 after buying an additional 350,000 shares during the period.

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.