PACS Group, Inc. (NYSE:PACS) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in PACS Group, Inc. (NYSE:PACS - Free Report) by 51.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,759 shares of the company's stock after buying an additional 58,036 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.11% of PACS Group worth $2,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of PACS Group during the 3rd quarter valued at about $66,000. Savant Capital LLC purchased a new stake in shares of PACS Group in the fourth quarter worth about $142,000. Bleakley Financial Group LLC bought a new position in PACS Group during the fourth quarter valued at approximately $179,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of PACS Group during the 3rd quarter worth approximately $251,000. Finally, SG Americas Securities LLC boosted its position in shares of PACS Group by 40.3% during the 4th quarter. SG Americas Securities LLC now owns 19,249 shares of the company's stock valued at $252,000 after acquiring an additional 5,528 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PACS. Macquarie decreased their price target on shares of PACS Group from $42.00 to $24.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Finally, Truist Financial decreased their price target on PACS Group from $46.00 to $32.00 and set a "buy" rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

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PACS Group Stock Down 4.7 %

Shares of PACS stock traded down $0.56 on Tuesday, hitting $11.37. The stock had a trading volume of 236,281 shares, compared to its average volume of 814,152. PACS Group, Inc. has a one year low of $11.38 and a one year high of $43.92. The business has a 50 day moving average price of $13.34 and a 200 day moving average price of $22.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

PACS Group 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.