Wellington Management Group LLP Boosts Stock Position in PACS Group, Inc. (NYSE:PACS)

Wellington Management Group LLP increased its holdings in PACS Group, Inc. (NYSE:PACS) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,254,909 shares of the company’s stock after purchasing an additional 878,358 shares during the quarter. Wellington Management Group LLP owned approximately 4.10% of PACS Group worth $82,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in PACS Group by 651.3% in the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after purchasing an additional 54,932 shares in the last quarter. Soros Fund Management LLC increased its position in shares of PACS Group by 233.3% during the third quarter. Soros Fund Management LLC now owns 500,000 shares of the company’s stock valued at $19,985,000 after buying an additional 350,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of PACS Group by 5.9% during the third 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 period. Charles Schwab Investment Management Inc. raised its stake in PACS Group by 78.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock worth $13,070,000 after buying an additional 143,389 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in PACS Group by 526.1% in the fourth quarter. Teacher Retirement System of Texas now owns 56,210 shares of the company’s stock worth $737,000 after buying an additional 47,232 shares during the period.

Wall Street Analysts Forecast Growth

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

PACS Group Price Performance

PACS Group stock opened at $9.54 on Friday. PACS Group, Inc. has a 12 month low of $9.14 and a 12 month high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71. The business’s fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $20.53.

PACS Group 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.