Investors Purchase Large Volume of PACS Group Call Options (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS - Get Free Report) saw some unusual options trading on Tuesday. Investors bought 2,936 call options on the company. This represents an increase of 192% compared to the typical volume of 1,006 call options.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in PACS Group by 651.3% during the third 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 last quarter. Concentric Capital Strategies LP bought a new position in shares of PACS Group in the 3rd quarter worth about $3,970,000. Maven Securities LTD acquired a new position in shares of PACS Group in the 3rd quarter valued at about $3,997,000. Wellington Management Group LLP boosted its position in shares of PACS Group by 60.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,376,551 shares of the company's stock valued at $214,901,000 after purchasing an additional 2,025,835 shares in the last quarter. Finally, Soros Fund Management LLC grew its stake in PACS Group by 233.3% during the third quarter. Soros Fund Management LLC now owns 500,000 shares of the company's stock worth $19,985,000 after purchasing an additional 350,000 shares during the period.

PACS Group Stock Down 1.6 %

Shares of PACS traded down $0.16 during mid-day trading on Friday, reaching $9.54. 643,570 shares of the company were exchanged, compared to its average volume of 817,212. The business has a 50 day simple moving average of $12.74 and a two-hundred day simple moving average of $20.39. PACS Group has a 52 week low of $9.14 and a 52 week high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial reduced their price objective 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. Macquarie reduced their price target on PACS Group from $42.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, PACS Group has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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.