PACS Group (NYSE:PACS) Hits New 1-Year Low - Should You Sell?

PACS Group, Inc. (NYSE:PACS - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $8.59 and last traded at $8.68, with a volume of 110878 shares traded. The stock had previously closed at $9.26.

Analyst Ratings Changes

Several equities analysts recently issued reports on PACS shares. Truist Financial decreased their target price on shares of PACS Group from $46.00 to $32.00 and set a "buy" rating for the company in a research note on Monday, January 6th. 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, PACS Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

PACS Group Price Performance

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's 50-day moving average is $11.21 and its two-hundred day moving average is $17.30.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in PACS. Assenagon Asset Management S.A. increased its position in shares of PACS Group by 107.9% during the first quarter. Assenagon Asset Management S.A. now owns 122,357 shares of the company's stock worth $1,375,000 after purchasing an additional 63,495 shares in the last quarter. SG Americas Securities LLC boosted its stake in PACS Group by 74.2% during the 1st quarter. SG Americas Securities LLC now owns 33,536 shares of the company's stock worth $377,000 after purchasing an additional 14,287 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of PACS Group by 3.6% during the first quarter. Rhumbline Advisers now owns 52,380 shares of the company's stock worth $589,000 after buying an additional 1,840 shares in the last quarter. GAMMA Investing LLC raised its position in shares of PACS Group by 2,363.1% in the first quarter. GAMMA Investing LLC now owns 12,488 shares of the company's stock valued at $140,000 after buying an additional 11,981 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of PACS Group by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company's stock worth $82,002,000 after buying an additional 878,358 shares in the last quarter.

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.