HBK Investments L P Trims Holdings in PACS Group, Inc. (NYSE:PACS)

HBK Investments L P cut its holdings in PACS Group, Inc. (NYSE:PACS) by 33.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company’s stock after selling 50,000 shares during the quarter. HBK Investments L P owned approximately 0.07% of PACS Group worth $3,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank purchased a new stake in shares of PACS Group in the 2nd quarter worth about $25,000. Whittier Trust Co. grew its position 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 buying an additional 834 shares during the period. Crewe Advisors LLC purchased a new stake in shares of PACS Group in the 3rd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in PACS Group in the 3rd quarter worth about $251,000. Finally, US Bancorp DE boosted its stake in 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 in the last quarter.

Analysts Set New Price Targets

PACS has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Stephens dropped their price target 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. Oppenheimer upped their price target 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. Truist Financial upped their target price on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PACS Group has a consensus rating of “Buy” and an average target price of $39.88.

PACS Group Trading Down 0.4 %

Shares of NYSE:PACS opened at $16.55 on Friday. The firm’s 50 day moving average price is $32.49 and its 200-day moving average price is $33.07. PACS Group, Inc. has a twelve month low of $16.09 and a twelve month high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.