Intech Investment Management LLC Makes New $405,000 Investment in PACS Group, Inc. (NYSE:PACS)

Intech Investment Management LLC purchased a new stake in PACS Group, Inc. (NYSE:PACS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,144 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds have also modified their holdings of PACS. Amalgamated Bank lifted 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. Whittier Trust Co. grew its position 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 purchasing an additional 834 shares during the last quarter. US Bancorp DE increased its holdings in shares of 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 purchasing an additional 2,404 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of PACS Group by 47.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 27,545 shares of the company’s stock valued at $1,101,000 after buying an additional 8,841 shares during the last quarter. Finally, Sandia Investment Management LP bought a new stake in shares of PACS Group in the second quarter valued at about $295,000.

PACS Group Price Performance

Shares of NYSE PACS opened at $15.90 on Tuesday. 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, Inc. has a 1 year low of $15.30 and a 1 year high of $43.92. The company has a 50-day moving average price of $31.50 and a 200-day moving average price of $33.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PACS. Truist Financial upped their target price on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Citigroup started 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. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price target on shares of PACS Group in a research note on Wednesday, November 6th. UBS Group assumed coverage on PACS Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Stephens lowered their price target on PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PACS Group presently has an average rating of “Buy” and a consensus target price of $39.88.

PACS Group 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.