PACS Group, Inc. (NYSE:PACS) Shares Bought by Fmr LLC

Fmr LLC lifted its stake in shares of PACS Group, Inc. (NYSE:PACS) by 174.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,641,651 shares of the company’s stock after purchasing an additional 1,043,399 shares during the quarter. Fmr LLC’s holdings in PACS Group were worth $65,617,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in shares of PACS Group during the 3rd quarter worth about $4,259,000. GSA Capital Partners LLP bought a new stake in PACS Group during the third quarter worth approximately $1,229,000. Davidson Kempner Capital Management LP bought a new position in PACS Group during the 2nd quarter valued at $4,425,000. Bank of New York Mellon Corp bought a new position in PACS Group during the 2nd quarter valued at $2,445,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of PACS Group during the 2nd quarter valued at $7,513,000.

PACS Group Trading Up 6.1 %

Shares of PACS opened at $15.51 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $29.52 and its 200 day moving average price is $32.56. PACS Group, Inc. has a twelve month low of $14.43 and a twelve month high of $43.92.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PACS. Truist Financial raised their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Oppenheimer lifted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. UBS Group began coverage on shares of PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a research report on Wednesday, November 6th. Finally, Stephens cut their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group has a consensus rating of “Buy” and a consensus target price of $39.88.

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.