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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Amalgamated Bank acquired a new position in PACS Group during the second quarter valued at approximately $25,000. Whittier Trust Co. boosted 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 buying an additional 834 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of PACS Group in the third quarter valued at $66,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in PACS Group during the third quarter worth $251,000. Finally, US Bancorp DE raised 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 worth $267,000 after acquiring an additional 2,404 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on PACS. Macquarie decreased their price objective on shares of PACS Group from $42.00 to $24.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Truist Financial lowered their price target on PACS Group from $46.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group started coverage on PACS Group in a research report on Wednesday, October 9th. They issued a "buy" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $18.00 target price on shares of PACS Group in a report on Tuesday, December 17th. Finally, Stephens cut their price target on PACS Group from $48.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $34.00.

PACS Group Trading Down 0.8 %

NYSE PACS traded down $0.12 on Friday, reaching $14.25. The stock had a trading volume of 360,110 shares, compared to its average volume of 469,991. PACS Group, Inc. has a 1-year low of $12.54 and a 1-year high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a fifty day moving average of $14.46 and a two-hundred day moving average of $28.69.

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.