PACS Group (NYSE:PACS) Reaches New 52-Week Low – What’s Next?

PACS Group, Inc. (NYSE:PACS)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $11.38 and last traded at $11.58, with a volume of 105698 shares changing hands. The stock had previously closed at $11.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PACS shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial decreased their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Macquarie cut their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PACS Group presently has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Performance

The stock’s fifty day simple moving average is $13.36 and its two-hundred day simple moving average is $22.36. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Institutional Trading of PACS Group

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in PACS Group by 45.8% during the fourth quarter. California State Teachers Retirement System now owns 42,984 shares of the company’s stock valued at $564,000 after buying an additional 13,511 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of PACS Group during the fourth quarter valued at $413,000. Paradigm Capital Management Inc. NY bought a new position in shares of PACS Group during the fourth quarter valued at $4,195,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PACS Group by 59.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,019 shares of the company’s stock worth $695,000 after purchasing an additional 19,831 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in PACS Group in the 4th quarter worth about $7,335,000.

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.