Charles Schwab Investment Management Inc. Buys 143,389 Shares of PACS Group, Inc. (NYSE:PACS)

Charles Schwab Investment Management Inc. grew its stake in PACS Group, Inc. (NYSE:PACS) by 78.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,005 shares of the company’s stock after purchasing an additional 143,389 shares during the period. Charles Schwab Investment Management Inc. owned about 0.21% of PACS Group worth $13,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in PACS Group in the second quarter valued at approximately $25,000. Whittier Trust Co. lifted its stake in shares of PACS Group by 152.2% in the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after acquiring an additional 834 shares during the last quarter. US Bancorp DE boosted its holdings in shares of PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after acquiring an additional 2,404 shares in the last quarter. Sandia Investment Management LP bought a new stake in PACS Group during the 2nd quarter worth $295,000. Finally, The Manufacturers Life Insurance Company acquired a new position in PACS Group in the 2nd quarter worth about $302,000.

PACS Group Stock Performance

Shares of PACS Group stock opened at $15.51 on Monday. The stock has a fifty day simple moving average of $29.52 and a 200 day simple moving average of $32.63. PACS Group, Inc. has a 12-month low of $14.43 and a 12-month high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PACS shares. Stephens cut their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 target price on shares of PACS Group in a report on Wednesday, November 6th. Citigroup assumed coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price for the company. Oppenheimer lifted their target price on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Truist Financial lifted their price objective on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.88.

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.