UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New $1.33 Million Investment in PACS Group, Inc. (NYSE:PACS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PACS Group, Inc. (NYSE:PACS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,188 shares of the company’s stock, valued at approximately $1,327,000.

Several other institutional investors have also recently made changes to their positions in PACS. Amalgamated Bank bought a new position in PACS Group in the second quarter worth approximately $25,000. Whittier Trust Co. increased its holdings 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 period. Crewe Advisors LLC bought a new position in shares of PACS Group in the 3rd quarter worth $66,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of PACS Group during the 3rd quarter worth $251,000. Finally, US Bancorp DE boosted its position 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 in the last quarter.

PACS Group Stock Down 8.1 %

NYSE PACS opened at $13.95 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The stock’s fifty day moving average price is $26.68 and its 200 day moving average price is $32.02. PACS Group, Inc. has a 1 year low of $13.80 and a 1 year high of $43.92.

Analyst Ratings Changes

Several analysts have commented on PACS shares. Stephens decreased their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Citigroup initiated coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price for the company. 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 target on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday. Finally, Truist Financial boosted their target price on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

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.