HighTower Advisors LLC Purchases New Position in PACS Group, Inc. (NYSE:PACS)

HighTower Advisors LLC acquired a new stake in PACS Group, Inc. (NYSE:PACS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,569 shares of the company's stock, valued at approximately $2,303,000.

A number of other large investors have also added to or reduced their stakes in the business. Amalgamated Bank grew its holdings in PACS Group by 56.7% during the 3rd quarter. Amalgamated Bank now owns 1,349 shares of the company's stock worth $54,000 after acquiring an additional 488 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of PACS Group by 152.2% during the third quarter. Whittier Trust Co. now owns 1,382 shares of the company's stock worth $55,000 after purchasing an additional 834 shares during the period. Crewe Advisors LLC bought a new stake in shares of PACS Group in the third quarter worth $66,000. US Bancorp DE increased its holdings in PACS Group by 56.2% in 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 during the period. Finally, The Manufacturers Life Insurance Company raised its position in PACS Group by 45.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company's stock worth $595,000 after purchasing an additional 4,660 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have commented on PACS. UBS Group began coverage on PACS Group in a research report on Wednesday, October 9th. They issued a "buy" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of PACS Group in a research note on Wednesday, November 6th. Truist Financial increased their target price on shares of PACS Group from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Citigroup started coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a "buy" rating and a $45.00 price target on the stock. Finally, Stephens decreased their price objective 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, PACS Group presently has an average rating of "Buy" and a consensus target price of $39.88.

PACS Group Trading Up 3.8 %

Shares of PACS Group stock traded up $0.56 on Friday, reaching $15.41. 1,367,195 shares of the company's stock were exchanged, compared to its average volume of 900,365. PACS Group, Inc. has a 52 week low of $14.43 and a 52 week high of $43.92. 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 firm's 50-day moving average is $27.15 and its two-hundred day moving average is $32.11.

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.