Wasatch Advisors LP Sells 24,490 Shares of PACS Group, Inc. (NYSE:PACS)

Wasatch Advisors LP lessened its position in shares of PACS Group, Inc. (NYSE:PACS) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,949,908 shares of the company’s stock after selling 24,490 shares during the quarter. Wasatch Advisors LP’s holdings in PACS Group were worth $77,938,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PACS. 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 note on Tuesday, August 13th. UBS Group began coverage on shares of PACS Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target on the stock. Citigroup began coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target on the stock. Stephens cut their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Truist Financial upped their price target on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $39.88.

PACS Group Stock Performance

NYSE:PACS opened at $15.81 on Friday. PACS Group, Inc. has a 1-year low of $15.81 and a 1-year high of $43.92. The company’s fifty day moving average price is $31.99 and its 200-day moving average price is $33.01. The company has a current ratio of 1.71, a quick 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.