ExodusPoint Capital Management LP Takes Position in PACS Group, Inc. (NYSE:PACS)

ExodusPoint Capital Management LP purchased a new position in shares of PACS Group, Inc. (NYSE:PACS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,266 shares of the company’s stock, valued at approximately $174,000.

A number of other hedge funds have also added to or reduced their stakes in PACS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PACS Group in the 3rd quarter valued at approximately $1,327,000. State Street Corp lifted its stake in PACS Group by 119.5% in the 3rd quarter. State Street Corp now owns 754,221 shares of the company’s stock valued at $30,146,000 after purchasing an additional 410,606 shares during the last quarter. Jane Street Group LLC boosted its position in PACS Group by 63.2% in the third quarter. Jane Street Group LLC now owns 38,746 shares of the company’s stock valued at $1,549,000 after buying an additional 15,003 shares in the last quarter. Barclays PLC grew its stake in shares of PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after buying an additional 54,932 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of PACS Group by 65.2% during the third quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after buying an additional 329,288 shares in the last quarter.

Analysts Set New Price Targets

PACS has been the topic of a number of research reports. Macquarie reduced their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a research note on Tuesday, December 17th. Finally, Truist Financial reduced their target price 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Up 1.9 %

Shares of PACS stock opened at $9.33 on Tuesday. The business’s 50 day simple moving average is $11.99 and its 200 day simple moving average is $18.67. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group, Inc. has a one year low of $8.87 and a one year high of $43.92.

About PACS Group

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.