Verition Fund Management LLC Sells 222,691 Shares of PACS Group, Inc. (NYSE:PACS)

Verition Fund Management LLC lessened its stake in shares of PACS Group, Inc. (NYSE:PACS) by 89.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,509 shares of the company’s stock after selling 222,691 shares during the period. Verition Fund Management LLC’s holdings in PACS Group were worth $1,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PACS. FMR LLC increased its position in shares of PACS Group by 174.4% in the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after purchasing an additional 1,043,399 shares during the period. Deerfield Management Company L.P. Series C bought a new position in PACS Group in the 2nd quarter valued at about $19,584,000. Royce & Associates LP increased its holdings in PACS Group by 2.2% in the 3rd quarter. Royce & Associates LP now owns 465,198 shares of the company’s stock valued at $18,594,000 after buying an additional 10,002 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of PACS Group by 48.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after buying an additional 123,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PACS Group by 78.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 327,005 shares of the company’s stock worth $13,070,000 after acquiring an additional 143,389 shares during the period.

Analyst Ratings Changes

Several research analysts have commented on PACS shares. Oppenheimer boosted their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Truist Financial increased their target price on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group started coverage on shares of PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. 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 report on Monday, November 18th. Finally, Citigroup began coverage on shares of PACS Group in a research report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $39.88.

PACS Group Stock Up 6.1 %

Shares of NYSE PACS opened at $15.51 on Friday. The firm has a 50 day moving average price of $29.52 and a two-hundred day moving average price of $32.60. 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 $14.43 and a 52-week high of $43.92.

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.