PACS Group Sees Unusually High Options Volume (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 2,936 call options on the stock. This represents an increase of 192% compared to the typical volume of 1,006 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PACS shares. Truist Financial decreased their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of PACS Group in a research report on Tuesday, December 17th. Finally, Macquarie dropped their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Price Performance

PACS stock traded down $0.42 during midday trading on Tuesday, reaching $10.82. The company had a trading volume of 457,938 shares, compared to its average volume of 818,736. PACS Group has a 1-year low of $10.32 and a 1-year high of $43.92. The stock has a 50 day moving average price of $13.07 and a 200-day moving average price of $21.12. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in PACS. Wellington Management Group LLP increased its stake in PACS Group by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock valued at $82,002,000 after acquiring an additional 878,358 shares during the last quarter. California State Teachers Retirement System increased 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 valued at $564,000 after purchasing an additional 13,511 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of PACS Group during the 4th quarter worth $413,000. Paradigm Capital Management Inc. NY bought a new stake in shares of PACS Group during the 4th quarter worth $4,195,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PACS Group by 59.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,019 shares of the company’s stock valued at $695,000 after buying an additional 19,831 shares in the last quarter.

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.