Penserra Capital Management LLC Has $1.20 Million Stock Position in PACS Group, Inc. (NYSE:PACS)

Penserra Capital Management LLC lifted its stake in PACS Group, Inc. (NYSE:PACS) by 87.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,128 shares of the company’s stock after buying an additional 14,098 shares during the period. Penserra Capital Management LLC’s holdings in PACS Group were worth $1,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Amalgamated Bank bought a new stake in PACS Group in the second quarter valued at $25,000. Whittier Trust Co. grew its holdings in shares of PACS Group by 152.2% in the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after purchasing an additional 834 shares during the last quarter. US Bancorp DE grew its holdings in shares of PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock worth $267,000 after purchasing an additional 2,404 shares during the last quarter. Sandia Investment Management LP acquired a new stake in shares of PACS Group during the 2nd quarter worth about $295,000. Finally, Intech Investment Management LLC bought a new position in PACS Group during the 3rd quarter valued at about $405,000.

Analyst Upgrades and Downgrades

PACS has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Oppenheimer increased their price target on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price objective on shares of PACS Group in a research report on Wednesday, November 6th. Stephens decreased their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Citigroup began coverage on PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, PACS Group currently has an average rating of “Buy” and an average target price of $39.88.

PACS Group Stock Performance

PACS stock opened at $16.61 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group, Inc. has a twelve month low of $16.09 and a twelve month high of $43.92. The business has a fifty day moving average of $33.47 and a 200-day moving average of $33.31.

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.