PACS Group Sees Unusually High Options Volume (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) was the recipient of unusually large options trading activity on Thursday. Investors purchased 18,485 put options on the company. This represents an increase of 2,095% compared to the typical daily volume of 842 put options.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACS. Rhumbline Advisers raised its holdings in shares of PACS Group by 2.5% in the 4th quarter. Rhumbline Advisers now owns 50,540 shares of the company’s stock worth $663,000 after acquiring an additional 1,217 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of PACS Group by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,539 shares of the company’s stock worth $322,000 after purchasing an additional 1,527 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of PACS Group by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 34,317 shares of the company’s stock valued at $450,000 after purchasing an additional 2,196 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PACS Group by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,524 shares of the company’s stock valued at $204,000 after buying an additional 2,598 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in PACS Group by 1.4% during the fourth quarter. Bank of America Corp DE now owns 189,886 shares of the company’s stock worth $2,489,000 after buying an additional 2,702 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

PACS Group Price Performance

Shares of PACS opened at $11.04 on Friday. PACS Group has a 52-week low of $10.99 and a 52-week high of $43.92. The business’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $21.75. 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 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.