PACS Group, Inc. (NYSE:PACS) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in PACS Group, Inc. (NYSE:PACS) by 261.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,012 shares of the company’s stock after acquiring an additional 16,641 shares during the quarter. MetLife Investment Management LLC’s holdings in PACS Group were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted its holdings in PACS Group by 174.4% during the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock worth $65,617,000 after buying an additional 1,043,399 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of PACS Group during the second quarter valued at $19,584,000. Lighthouse Investment Partners LLC acquired a new position in shares of PACS Group in the 2nd quarter valued at $8,946,000. Millennium Management LLC purchased a new position in PACS Group in the 2nd quarter worth about $8,905,000. Finally, Ghisallo Capital Management LLC acquired a new stake in PACS Group during the 2nd quarter worth about $8,850,000.

PACS Group Price Performance

Shares of PACS Group stock opened at $15.51 on Friday. The stock has a 50-day simple moving average of $29.52 and a 200-day simple moving average of $32.56. PACS Group, Inc. has a 52-week low of $14.43 and a 52-week high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 target price on shares of PACS Group in a research report on Wednesday, November 6th. Oppenheimer increased their target price on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Stephens dropped 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. Citigroup assumed coverage on PACS Group in a report on Wednesday, September 11th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, UBS Group assumed coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $39.88.

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.