Wellington Management Group LLP Sells 212,828 Shares of PACS Group, Inc. $PACS

Key Points

• Wellington Management Group LLP has reduced its stake in PACS Group, Inc. by 3.4%, lowering its ownership to approximately 3.96%, which is valued at about $67.9 million.
• Several hedge funds, including Russell Investments Group Ltd. and Zurcher Kantonalbank, have increased their holdings in PACS Group, indicating a growing interest from institutional investors.
• PACS Group's stock has experienced a slight increase of 2.4% recently, and it currently trades around $12, with a notable 1-year low of $8.28 and a high of $43.92.

Wellington Management Group LLP cut its holdings in PACS Group, Inc. (NYSE:PACS - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,042,081 shares of the company's stock after selling 212,828 shares during the period. Wellington Management Group LLP owned approximately 3.96% of PACS Group worth $67,913,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Balyasny Asset Management L.P. grew its stake in shares of PACS Group by 1,212.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,097,578 shares of the company's stock valued at $14,389,000 after acquiring an additional 1,013,920 shares in the last quarter. Two Sigma Investments LP grew its stake in PACS Group by 868.6% during the fourth quarter. Two Sigma Investments LP now owns 759,534 shares of the company's stock worth $9,957,000 after buying an additional 681,116 shares in the last quarter. Man Group plc acquired a new stake in PACS Group during the fourth quarter worth about $9,760,000. Janus Henderson Group PLC grew its stake in PACS Group by 4,211.6% during the fourth quarter. Janus Henderson Group PLC now owns 577,761 shares of the company's stock worth $7,574,000 after buying an additional 564,361 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in PACS Group during the fourth quarter worth about $7,335,000.

PACS Group Trading Down 2.5%

PACS Group stock traded down $0.30 during trading hours on Thursday, reaching $11.57. 28,281 shares of the stock were exchanged, compared to its average volume of 537,101. PACS Group, Inc. has a twelve month low of $8.28 and a twelve month high of $43.92. The stock has a 50 day moving average of $12.06 and a two-hundred day moving average of $11.38.

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.