PACS Group (NYSE:PACS) Shares Gap Down – Should You Sell?

Shares of PACS Group, Inc. (NYSE:PACS) gapped down prior to trading on Tuesday . The stock had previously closed at $11.24, but opened at $11.00. PACS Group shares last traded at $10.72, with a volume of 101,807 shares traded.

Analyst Upgrades and Downgrades

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

PACS Group Trading Down 3.2 %

The stock’s fifty day moving average price is $13.07 and its 200 day moving average price is $21.12. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PACS. Rhumbline Advisers increased its stake in shares of PACS Group by 2.5% during the fourth quarter. Rhumbline Advisers now owns 50,540 shares of the company’s stock valued at $663,000 after purchasing an additional 1,217 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of PACS Group by 6.6% in the 4th quarter. MetLife Investment Management LLC now owns 24,539 shares of the company’s stock worth $322,000 after buying an additional 1,527 shares during the last quarter. Wells Fargo & Company MN increased its position in PACS Group by 6.8% during the 4th quarter. Wells Fargo & Company MN now owns 34,317 shares of the company’s stock valued at $450,000 after buying an additional 2,196 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in PACS Group by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,524 shares of the company’s stock valued at $204,000 after buying an additional 2,598 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in PACS Group by 1.4% in the fourth quarter. Bank of America Corp DE now owns 189,886 shares of the company’s stock worth $2,489,000 after acquiring an additional 2,702 shares in the last quarter.

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.