PACS Group, Inc. (NYSE:PACS) Short Interest Down 21.6% in February

PACS Group, Inc. (NYSE:PACS) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 2,730,000 shares, a decrease of 21.6% from the January 31st total of 3,480,000 shares. Based on an average trading volume of 750,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 7.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

PACS has been the subject of several recent analyst reports. Stephens decreased their target price on PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. 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. Truist Financial reduced their price objective on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Trading of PACS Group

A number of large investors have recently bought and sold shares of PACS. State of Wyoming purchased a new stake in shares of PACS Group in the fourth quarter valued at about $47,000. Amalgamated Bank grew its holdings in shares of PACS Group by 56.7% during the third quarter. Amalgamated Bank now owns 1,349 shares of the company’s stock worth $54,000 after buying an additional 488 shares during the last quarter. Crewe Advisors LLC acquired a new position in PACS Group in the 3rd quarter valued at about $66,000. KLP Kapitalforvaltning AS purchased a new stake in PACS Group during the 4th quarter valued at approximately $126,000. Finally, Savant Capital LLC acquired a new stake in PACS Group during the 4th quarter worth approximately $142,000.

PACS Group Trading Down 2.3 %

Shares of PACS traded down $0.30 during mid-day trading on Tuesday, reaching $12.77. 74,273 shares of the company’s stock were exchanged, compared to its average volume of 547,089. The business’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $24.96. PACS Group has a 52-week low of $12.38 and a 52-week high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

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.