Barclays PLC Increases Stock Position in PACS Group, Inc. (NYSE:PACS)

Barclays PLC increased its position in PACS Group, Inc. (NYSE:PACS) by 651.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,366 shares of the company’s stock after buying an additional 54,932 shares during the quarter. Barclays PLC’s holdings in PACS Group were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Lisanti Capital Growth LLC acquired a new position in PACS Group in the 3rd quarter worth $4,259,000. Concentric Capital Strategies LP acquired a new position in shares of PACS Group in the third quarter worth about $3,970,000. Maven Securities LTD purchased a new position in PACS Group in the third quarter valued at about $3,997,000. Wellington Management Group LLP grew its stake in PACS Group by 60.5% during the 3rd 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 in the last quarter. Finally, Soros Fund Management LLC increased its holdings in PACS Group by 233.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock worth $19,985,000 after purchasing an additional 350,000 shares during the last quarter.

PACS Group Price Performance

Shares of PACS Group stock opened at $13.09 on Thursday. The stock has a 50-day simple moving average of $23.55 and a 200-day simple moving average of $31.31. PACS Group, Inc. has a 52-week low of $12.71 and a 52-week 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 Ratings Changes

PACS has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research note on Tuesday, December 17th. UBS Group assumed coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price for the company. Stephens dropped their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Citigroup started coverage on shares of PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Truist Financial increased their target price on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.13.

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.