Wellington Management Group LLP Acquires 2,025,835 Shares of PACS Group, Inc. (NYSE:PACS)

Wellington Management Group LLP grew its stake in shares of PACS Group, Inc. (NYSE:PACS - Free Report) by 60.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,376,551 shares of the company's stock after purchasing an additional 2,025,835 shares during the quarter. Wellington Management Group LLP owned about 3.53% of PACS Group worth $214,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PACS. Amalgamated Bank acquired a new position in shares of PACS Group during the 2nd quarter worth approximately $25,000. Whittier Trust Co. boosted its stake in shares of PACS Group by 152.2% during the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company's stock worth $55,000 after acquiring an additional 834 shares during the period. Crewe Advisors LLC bought a new position in shares of PACS Group during the 3rd quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of PACS Group during the 3rd quarter worth approximately $251,000. Finally, US Bancorp DE boosted its stake in shares of PACS Group by 56.2% during the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company's stock worth $267,000 after acquiring an additional 2,404 shares during the period.

PACS Group Price Performance

Shares of PACS Group stock traded up $0.10 during trading on Monday, reaching $15.61. 936,933 shares of the company's stock were exchanged, compared to its average volume of 899,074. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. PACS Group, Inc. has a 1-year low of $14.43 and a 1-year high of $43.92. The firm's 50-day moving average price is $29.52 and its 200 day moving average price is $32.63.

Wall Street Analyst Weigh In

PACS has been the subject of several research analyst reports. UBS Group initiated coverage on PACS Group in a research note on Wednesday, October 9th. They set a "buy" rating and a $50.00 target price for the company. Citigroup assumed coverage on PACS Group in a research note on Wednesday, September 11th. They issued a "buy" rating and a $45.00 price target for the company. Oppenheimer boosted their price target on PACS Group from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, August 13th. Truist Financial boosted their price target on PACS Group from $44.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $40.00 price target on shares of PACS Group in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $39.88.

PACS Group 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.