State Street Corp Increases Holdings in PACS Group, Inc. (NYSE:PACS)

State Street Corp grew its holdings in PACS Group, Inc. (NYSE:PACS) by 119.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 754,221 shares of the company’s stock after buying an additional 410,606 shares during the quarter. State Street Corp owned approximately 0.49% of PACS Group worth $30,146,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lisanti Capital Growth LLC bought a new position in shares of PACS Group during the third quarter valued at approximately $4,259,000. Concentric Capital Strategies LP bought a new position in PACS Group in the 3rd quarter worth $3,970,000. Maven Securities LTD purchased a new stake in shares of PACS Group in the 3rd quarter worth about $3,997,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PACS Group by 78.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock valued at $13,070,000 after purchasing an additional 143,389 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of PACS Group during the 3rd quarter valued at about $11,991,000.

PACS Group Price Performance

Shares of NYSE:PACS opened at $13.01 on Friday. PACS Group, Inc. has a 1-year low of $12.78 and a 1-year high of $43.92. The business has a fifty day moving average price of $24.64 and a 200-day moving average price of $31.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Wall Street Analyst Weigh In

PACS has been the subject of several research analyst reports. UBS Group began coverage on shares of PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup began coverage on PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target on the stock. Truist Financial upped their price target on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Stephens reduced their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.13.

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.