Peterson Wealth Services Takes $488,000 Position in PACS Group, Inc. (NYSE:PACS)

Peterson Wealth Services acquired a new position in PACS Group, Inc. (NYSE:PACS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,248 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PACS. Amalgamated Bank boosted its holdings in PACS Group by 56.7% in the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after acquiring an additional 488 shares in the last quarter. Whittier Trust Co. raised 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 valued at $55,000 after purchasing an additional 834 shares during the last quarter. Crewe Advisors LLC acquired a new stake in PACS Group in the 3rd quarter worth approximately $66,000. US Bancorp DE grew its position in PACS Group by 56.2% during 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 during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in PACS Group by 45.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,882 shares of the company’s stock valued at $595,000 after purchasing an additional 4,660 shares in the last quarter.

PACS Group Trading Up 0.6 %

Shares of PACS opened at $14.18 on Tuesday. PACS Group, Inc. has a 52 week low of $12.54 and a 52 week high of $43.92. The stock’s 50-day moving average price is $13.97 and its 200-day moving average price is $27.39. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Wall Street Analysts Forecast Growth

PACS has been the subject of several research reports. Stephens lowered their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Truist Financial lowered their price target on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. Finally, Macquarie dropped their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

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.