PACS Group (NYSE:PACS) Shares Gap Down – Here’s Why

PACS Group, Inc. (NYSE:PACS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.24, but opened at $11.00. PACS Group shares last traded at $10.72, with a volume of 101,807 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PACS. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. Truist Financial lowered their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Macquarie reduced their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The business has a fifty day moving average of $13.07 and a 200-day moving average of $21.12.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in PACS Group in the fourth quarter worth $47,000. KLP Kapitalforvaltning AS purchased a new position in shares of PACS Group in the 4th quarter worth about $126,000. Savant Capital LLC bought a new position in shares of PACS Group during the 4th quarter valued at about $142,000. ProShare Advisors LLC raised its holdings in shares of PACS Group by 45.4% during the 4th quarter. ProShare Advisors LLC now owns 10,855 shares of the company’s stock valued at $142,000 after buying an additional 3,391 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in PACS Group in the 4th quarter worth approximately $161,000.

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.