PACS Group (NYSE:PACS) Shares Gap Up – Here’s What Happened

PACS Group, Inc. (NYSE:PACS) gapped up prior to trading on Thursday . The stock had previously closed at $13.11, but opened at $14.00. PACS Group shares last traded at $13.47, with a volume of 87,758 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on PACS shares. Citigroup initiated coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price target for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. UBS Group initiated coverage on PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial increased their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Stephens decreased their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.13.

PACS Group Stock Up 3.2 %

The stock’s 50 day simple moving average is $18.98 and its two-hundred day simple moving average is $30.36. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in PACS Group by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after buying an additional 70,786 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of PACS Group during the third quarter valued at $472,000. Geode Capital Management LLC boosted its holdings in PACS Group by 65.2% in the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock valued at $33,359,000 after acquiring an additional 329,288 shares during the last quarter. Barclays PLC increased its position in PACS Group by 651.3% in the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after purchasing an additional 54,932 shares during the period. Finally, Zimmer Partners LP raised its stake in shares of PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock worth $93,111,000 after buying an additional 1,529,529 shares during the last quarter.

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.