PACS Group (NYSE:PACS) Hits New 1-Year Low – Time to Sell?

Shares of PACS Group, Inc. (NYSE:PACS) hit a new 52-week low during trading on Friday . The stock traded as low as $11.38 and last traded at $11.58, with a volume of 105698 shares. The stock had previously closed at $11.80.

Analyst Ratings Changes

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

PACS Group Trading Down 1.7 %

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $13.39 and its 200-day simple moving average is $22.67.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming purchased a new stake in shares of PACS Group in the 4th quarter valued at approximately $47,000. Crewe Advisors LLC purchased a new stake in shares of PACS Group in the 3rd quarter valued at approximately $66,000. KLP Kapitalforvaltning AS purchased a new stake in shares of PACS Group in the 4th quarter valued at approximately $126,000. Savant Capital LLC purchased a new stake in shares of PACS Group in the 4th quarter valued at approximately $142,000. Finally, ProShare Advisors LLC increased its position in shares of PACS Group by 45.4% in the 4th quarter. ProShare Advisors LLC now owns 10,855 shares of the company’s stock valued at $142,000 after purchasing an additional 3,391 shares during the last quarter.

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.