PACS Group, Inc. (NYSE:PACS) Short Interest Down 21.6% in February

PACS Group, Inc. (NYSE:PACS - Get Free Report) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 2,730,000 shares, a decline of 21.6% from the January 31st total of 3,480,000 shares. Based on an average daily volume of 750,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 7.1% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of analysts have recently weighed in on PACS shares. 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. Stephens lowered 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. Truist Financial reduced their target price on shares of PACS Group from $46.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PACS Group presently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

PACS Group Price Performance

Shares of NYSE:PACS traded down $0.12 during trading on Friday, hitting $12.95. 376,740 shares of the company's stock were exchanged, compared to its average volume of 538,746. The firm has a 50-day moving average price of $13.58 and a two-hundred day moving average price of $24.43. PACS Group has a 1-year low of $12.38 and a 1-year high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

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Institutional Trading of PACS Group

A number of institutional investors have recently bought and sold shares of PACS. Barclays PLC grew its position in shares of PACS Group by 651.3% during the 3rd quarter. Barclays PLC now owns 63,366 shares of the company's stock worth $2,532,000 after buying an additional 54,932 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of PACS Group during the third quarter worth $4,259,000. Concentric Capital Strategies LP acquired a new position in shares of PACS Group in the 3rd quarter valued at $3,970,000. Maven Securities LTD bought a new stake in shares of PACS Group in the 3rd quarter valued at $3,997,000. Finally, Wellington Management Group LLP raised its stake in PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company's stock worth $214,901,000 after buying an additional 2,025,835 shares during the period.

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.