PACS Group, Inc. (NYSE:PACS) Shares Acquired by Royce & Associates LP

Royce & Associates LP grew its stake in shares of PACS Group, Inc. (NYSE:PACS - Free Report) by 97.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 918,423 shares of the company's stock after purchasing an additional 453,225 shares during the quarter. Royce & Associates LP owned 0.60% of PACS Group worth $12,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Amalgamated Bank lifted its position in shares of 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 purchasing an additional 488 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in PACS Group by 47.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,545 shares of the company's stock worth $1,101,000 after buying an additional 8,841 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in PACS Group in the 3rd quarter valued at about $777,000. Intech Investment Management LLC acquired a new stake in shares of PACS Group during the third quarter valued at about $405,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PACS Group by 78.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company's stock valued at $13,070,000 after acquiring an additional 143,389 shares in the last quarter.

Analyst Ratings Changes

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

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PACS Group Stock Performance

Shares of PACS traded down $0.27 during mid-day trading on Friday, hitting $11.53. The stock had a trading volume of 779,211 shares, compared to its average volume of 816,671. PACS Group, Inc. has a fifty-two week low of $11.39 and a fifty-two 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. The company's fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $22.67.

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.