Assenagon Asset Management S.A. Acquires Shares of 58,862 PACS Group, Inc. (NYSE:PACS)

Assenagon Asset Management S.A. acquired a new position in shares of PACS Group, Inc. (NYSE:PACS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 58,862 shares of the company’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of PACS Group by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock worth $50,871,000 after acquiring an additional 70,786 shares during the last quarter. Virtu Financial LLC purchased a new stake in PACS Group during the 3rd quarter worth approximately $472,000. Geode Capital Management LLC raised its position in shares of PACS Group by 65.2% in the 3rd quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock valued at $33,359,000 after purchasing an additional 329,288 shares in the last quarter. Barclays PLC boosted its stake in shares of PACS Group by 651.3% during the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after buying an additional 54,932 shares during the last quarter. Finally, Zimmer Partners LP grew its position in shares of PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after buying an additional 1,529,529 shares in the last quarter.

PACS Group Stock Performance

Shares of NYSE PACS opened at $14.25 on Friday. The stock’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 12-month low of $12.54 and a 12-month high of $43.92.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Macquarie cut their price target on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of PACS Group in a research report on Tuesday, December 17th. UBS Group began coverage on PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. Truist Financial lowered their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.