Concentric Capital Strategies LP Acquires New Shares in PACS Group, Inc. (NYSE:PACS)

Concentric Capital Strategies LP bought a new position in PACS Group, Inc. (NYSE:PACS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 99,332 shares of the company’s stock, valued at approximately $3,970,000. Concentric Capital Strategies LP owned approximately 0.07% of PACS Group as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PACS. Amalgamated Bank bought a new position in shares of PACS Group during the second quarter valued at $25,000. Whittier Trust Co. increased its holdings in PACS Group by 152.2% in the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after purchasing an additional 834 shares during the period. Crewe Advisors LLC acquired a new position in PACS Group during the 3rd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of PACS Group in the 3rd quarter valued at about $251,000. Finally, US Bancorp DE increased its stake in shares of PACS Group by 56.2% in the third quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on PACS shares. Stephens cut their price objective on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a research report on Wednesday, November 6th. Citigroup assumed coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 target price for the company. Oppenheimer upped their price target 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. Finally, Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $39.88.

PACS Group Stock Up 0.6 %

PACS opened at $15.90 on Tuesday. The company has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $33.00. PACS Group, Inc. has a 1-year low of $15.30 and a 1-year high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.