SG Americas Securities LLC Purchases 5,528 Shares of PACS Group, Inc. (NYSE:PACS)

SG Americas Securities LLC increased its holdings in PACS Group, Inc. (NYSE:PACS) by 40.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,249 shares of the company’s stock after purchasing an additional 5,528 shares during the quarter. SG Americas Securities LLC’s holdings in PACS Group were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in PACS Group by 56.7% in the 3rd quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock valued at $54,000 after buying an additional 488 shares in the last quarter. Whittier Trust Co. boosted 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 worth $55,000 after buying an additional 834 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of PACS Group during the 3rd quarter valued at $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in PACS Group in the third quarter worth about $251,000. Finally, US Bancorp DE grew its holdings in PACS Group by 56.2% during the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after purchasing an additional 2,404 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PACS shares. Truist Financial dropped their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Stephens lowered their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Macquarie reduced their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

PACS Group Stock Performance

PACS stock opened at $14.11 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $14.05 and a 200 day moving average of $27.70. PACS Group, Inc. has a twelve month low of $12.54 and a twelve month high of $43.92.

PACS Group 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.