Freestone Grove Partners LP Purchases New Holdings in PACS Group, Inc. (NYSE:PACS)

Freestone Grove Partners LP acquired a new position in shares of PACS Group, Inc. (NYSE:PACS) in the fourth quarter, Holdings Channel reports. The fund acquired 176,525 shares of the company’s stock, valued at approximately $2,314,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after purchasing an additional 54,932 shares during the period. Virtu Financial LLC acquired a new stake in shares of PACS Group in the 3rd quarter worth $472,000. JPMorgan Chase & Co. boosted its holdings in shares of PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after acquiring an additional 70,786 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of PACS Group during the fourth quarter worth about $772,000. Finally, SG Americas Securities LLC raised its holdings in PACS Group by 40.3% during the fourth quarter. SG Americas Securities LLC now owns 19,249 shares of the company’s stock worth $252,000 after purchasing an additional 5,528 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on PACS. Truist Financial lowered their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Macquarie cut their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

PACS Group Stock Up 3.8 %

Shares of PACS opened at $10.09 on Friday. The stock’s fifty day simple moving average is $10.79 and its 200 day simple moving average is $16.07. PACS Group, Inc. has a twelve month low of $8.28 and a twelve month high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.