HBK Investments L P Sells 35,000 Shares of PACS Group, Inc. (NYSE:PACS)

HBK Investments L P trimmed its position in shares of PACS Group, Inc. (NYSE:PACS - Free Report) by 35.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the company's stock after selling 35,000 shares during the quarter. HBK Investments L P's holdings in PACS Group were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in PACS Group by 20.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,524 shares of the company's stock worth $204,000 after acquiring an additional 2,598 shares during the last quarter. MetLife Investment Management LLC boosted its holdings 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. Canada Pension Plan Investment Board purchased a new position in shares of PACS Group in the 4th quarter worth about $851,000. Jump Financial LLC purchased a new position in shares of PACS Group in the 4th quarter worth about $841,000. Finally, Walleye Capital LLC purchased a new position in shares of PACS Group in the 4th quarter worth about $1,951,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PACS. Macquarie cut their price target 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. Truist Financial cut their price target 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 issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

PACS Group Trading Down 1.5 %

NYSE PACS traded down $0.15 during trading on Wednesday, hitting $9.60. 87,897 shares of the company's stock traded hands, compared to its average volume of 782,431. The business has a 50 day moving average of $10.99 and a 200-day moving average of $16.54. PACS Group, Inc. has a 12-month low of $8.28 and a 12-month high of $43.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.71 and a quick ratio of 1.71.

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.