Los Angeles Capital Management LLC Buys New Position in PACS Group, Inc. (NYSE:PACS)

Los Angeles Capital Management LLC purchased a new position in shares of PACS Group, Inc. (NYSE:PACS) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 17,735 shares of the company’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amalgamated Bank lifted its position 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 purchasing an additional 488 shares in the last quarter. 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 worth $267,000 after buying an additional 2,404 shares during the period. Whittier Trust Co. lifted its holdings in PACS Group by 152.2% in the 3rd quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock worth $55,000 after buying an additional 834 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in PACS Group by 48.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 378,325 shares of the company’s stock valued at $15,122,000 after buying an additional 123,654 shares during the last quarter. Finally, Seven Grand Managers LLC grew its stake in shares of PACS Group by 100.0% during the third quarter. Seven Grand Managers LLC now owns 150,000 shares of the company’s stock valued at $5,996,000 after acquiring an additional 75,000 shares in the last quarter.

PACS Group Stock Down 5.6 %

Shares of PACS opened at $17.40 on Friday. The business’s fifty day moving average price is $37.09 and its 200 day moving average price is $33.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71. PACS Group, Inc. has a 12-month low of $16.74 and a 12-month high of $43.92.

Analyst Ratings Changes

PACS has been the topic of several recent analyst reports. UBS Group assumed coverage on PACS Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Stephens increased their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Truist Financial lifted their price target on shares of PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. 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 report on Tuesday, August 13th. Finally, Citigroup assumed coverage on shares of PACS Group in a report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.00.

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.