PACS Group Sees Unusually High Options Volume (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) saw unusually large options trading activity on Thursday. Investors purchased 18,485 put options on the stock. This represents an increase of 2,095% compared to the average daily volume of 842 put options.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PACS. State of Wyoming purchased a new position in PACS Group during the 4th quarter valued at about $47,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of PACS Group during the third quarter valued at approximately $251,000. KLP Kapitalforvaltning AS purchased a new position in shares of PACS Group during the fourth quarter valued at approximately $126,000. Intech Investment Management LLC bought a new position in shares of PACS Group during the third quarter valued at approximately $405,000. Finally, Savant Capital LLC purchased a new stake in PACS Group in the fourth quarter worth $142,000.

Analyst Ratings Changes

Several brokerages have recently commented on PACS. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Truist Financial reduced their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Macquarie lowered their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Down 2.6 %

Shares of PACS Group stock opened at $11.04 on Friday. PACS Group has a one year low of $10.99 and a one year high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82. The business’s 50 day simple moving average is $13.18 and its two-hundred day simple moving average is $21.75.

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.