Arrowstreet Capital Limited Partnership Acquires New Holdings in PACS Group, Inc. (NYSE:PACS)

Arrowstreet Capital Limited Partnership bought a new position in shares of PACS Group, Inc. (NYSE:PACS) during the fourth quarter, Holdings Channel reports. The fund bought 72,255 shares of the company’s stock, valued at approximately $947,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in PACS Group by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock valued at $51,516,000 after acquiring an additional 237,069 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in PACS Group by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,350,842 shares of the company’s stock valued at $17,710,000 after buying an additional 78,122 shares during the period. Crewe Advisors LLC boosted its position in PACS Group by 66,972.9% during the fourth quarter. Crewe Advisors LLC now owns 1,112,068 shares of the company’s stock valued at $14,579,000 after acquiring an additional 1,110,410 shares during the last quarter. Royce & Associates LP grew its holdings in PACS Group by 97.4% during the 4th quarter. Royce & Associates LP now owns 918,423 shares of the company’s stock worth $12,041,000 after acquiring an additional 453,225 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of PACS Group by 65.2% in the 3rd quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after acquiring an additional 329,288 shares in the last quarter.

PACS Group Trading Down 1.9 %

NYSE PACS opened at $9.12 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group, Inc. has a 52 week low of $8.87 and a 52 week high of $43.92. The business has a 50 day moving average price of $12.09 and a 200-day moving average price of $19.02.

Wall Street Analysts Forecast Growth

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