PACS Group (NYSE:PACS) Reaches New 12-Month Low - Here's Why

PACS Group, Inc. (NYSE:PACS - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $12.44 and last traded at $12.49, with a volume of 61615 shares trading hands. The stock had previously closed at $12.79.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PACS. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Truist Financial lowered their price target on PACS Group from $46.00 to $32.00 and set a "buy" rating for the company in a report on Monday, January 6th. Macquarie lowered their price target on PACS Group from $42.00 to $24.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Finally, Stephens lowered 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 analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

PACS Group Stock Down 1.6 %

The business has a fifty day simple moving average of $13.59 and a two-hundred day simple moving average of $25.55. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Institutional Trading of PACS Group

A number of hedge funds have recently bought and sold shares of PACS. State of Wyoming purchased a new stake in PACS Group during the fourth quarter worth $47,000. Amalgamated Bank lifted its holdings in PACS Group by 56.7% during the third quarter. Amalgamated Bank now owns 1,349 shares of the company's stock worth $54,000 after buying an additional 488 shares during the period. Crewe Advisors LLC acquired a new position in shares of PACS Group during the third quarter worth $66,000. KLP Kapitalforvaltning AS acquired a new position in shares of PACS Group during the fourth quarter worth $126,000. Finally, Savant Capital LLC acquired a new position in shares of PACS Group during the fourth quarter worth $142,000.

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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.