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

PACS Group, Inc. (NYSE:PACS) reached a new 52-week low during trading on Friday . The company traded as low as $11.38 and last traded at $11.58, with a volume of 105698 shares changing hands. The stock had previously closed at $11.80.

Wall Street Analysts Forecast Growth

PACS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research report on Tuesday, December 17th. Macquarie dropped 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 report on Monday, January 6th. Finally, Truist Financial dropped their target price 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Trading Down 1.7 %

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 company’s 50-day simple moving average is $13.39 and its 200-day simple moving average is $22.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in shares of PACS Group by 45.8% in the 4th quarter. California State Teachers Retirement System now owns 42,984 shares of the company’s stock worth $564,000 after acquiring an additional 13,511 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of PACS Group in the 4th quarter worth $413,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of PACS Group in the 4th quarter worth $4,195,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 19,831 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of PACS Group in the 4th quarter worth $7,335,000.

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.