PACS Group (NYSE:PACS) Hits New 1-Year Low – Should You Sell?

PACS Group, Inc. (NYSE:PACS) shares reached a new 52-week low during trading on Monday . The stock traded as low as $12.44 and last traded at $12.49, with a volume of 61615 shares. The stock had previously closed at $12.79.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PACS shares. 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 research note on Monday, January 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. Stephens lowered their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Finally, Truist Financial cut their price target on 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 issued a buy rating to the company’s stock. According to MarketBeat.com, PACS Group presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Stock Up 3.7 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a 50-day simple moving average of $13.59 and a 200 day simple moving average of $25.77.

Institutional Trading of PACS Group

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in shares of PACS Group during the 4th quarter valued at about $413,000. Paradigm Capital Management Inc. NY purchased a new position in PACS Group during the fourth quarter valued at approximately $4,195,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PACS Group by 59.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,019 shares of the company’s stock worth $695,000 after purchasing an additional 19,831 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of PACS Group during the 4th quarter valued at approximately $7,335,000. Finally, Squarepoint Ops LLC lifted its stake in shares of PACS Group by 2.7% in the 4th quarter. Squarepoint Ops LLC now owns 129,392 shares of the company’s stock valued at $1,696,000 after purchasing an additional 3,397 shares during the period.

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.