PACS Group (NYSE:PACS) Trading Down 6.8% – Should You Sell?

by · The Cerbat Gem

PACS Group, Inc. (NYSE:PACS – Get Free Report)’s stock price dropped 6.8% during trading on Tuesday . The company traded as low as $14.48 and last traded at $14.6390. Approximately 411,675 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 711,977 shares. The stock had previously closed at $15.70.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of PACS Group in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.67.

View Our Latest Research Report on PACS Group

PACS Group Trading Down 7.8%

The company has a market capitalization of $2.21 billion, a P/E ratio of 46.53 and a beta of 1.06. The stock’s fifty day moving average is $12.31 and its 200 day moving average is $11.73.

Institutional Investors Weigh In On PACS Group

A number of large investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. purchased a new position in shares of PACS Group during the third quarter valued at approximately $11,904,000. Royce & Associates LP increased its position in PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after purchasing an additional 806,446 shares during the period. Marshall Wace LLP raised its holdings in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after purchasing an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after purchasing an additional 617,124 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after purchasing an additional 545,348 shares during the period.

About PACS Group

(Get Free Report)

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.

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