Trek Financial LLC Invests $386,000 in PACS Group, Inc. (NYSE:PACS)

Trek Financial LLC purchased a new stake in PACS Group, Inc. (NYSE:PACS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,463 shares of the company's stock, valued at approximately $386,000.

A number of other hedge funds also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of PACS Group by 26.2% during the fourth quarter. Russell Investments Group Ltd. now owns 311,871 shares of the company's stock worth $4,089,000 after buying an additional 64,734 shares during the period. Wells Fargo & Company MN grew its holdings in PACS Group by 6.8% during the 4th quarter. Wells Fargo & Company MN now owns 34,317 shares of the company's stock worth $450,000 after acquiring an additional 2,196 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of PACS Group in the 4th quarter worth about $174,000. Franklin Resources Inc. bought a new position in shares of PACS Group in the 4th quarter worth about $249,000. Finally, Wellington Management Group LLP lifted its stake in shares of PACS Group by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company's stock valued at $82,002,000 after purchasing an additional 878,358 shares during the period.

PACS Group Stock Down 1.9 %

Shares of NYSE:PACS traded down $0.18 during midday trading on Friday, reaching $9.12. The company had a trading volume of 400,178 shares, compared to its average volume of 788,583. PACS Group, Inc. has a 52-week low of $8.87 and a 52-week high of $43.92. The company's 50 day moving average price is $12.09 and its 200 day moving average price is $18.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Wall Street Analyst Weigh In

PACS has been the subject of a number of research analyst reports. Truist Financial lowered their target price 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 dropped their target price on shares of PACS Group from $42.00 to $24.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, PACS Group currently has an average rating of "Moderate Buy" and an average 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.