Adage Capital Partners GP L.L.C. Has $131,000 Holdings in PACS Group, Inc. (NYSE:PACS)

Adage Capital Partners GP L.L.C. reduced its holdings in PACS Group, Inc. (NYSE:PACS - Free Report) by 98.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,000 shares of the company's stock after selling 824,374 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in PACS Group were worth $131,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PACS. KLP Kapitalforvaltning AS bought a new position in PACS Group during the fourth quarter valued at about $126,000. Savant Capital LLC bought a new stake in shares of PACS Group during the fourth quarter valued at approximately $142,000. XTX Topco Ltd acquired a new position in shares of PACS Group in the fourth quarter valued at $161,000. ExodusPoint Capital Management LP bought a new position in PACS Group in the fourth quarter worth $174,000. Finally, Arizona State Retirement System lifted its position in PACS Group by 53.9% in the fourth quarter. Arizona State Retirement System now owns 13,510 shares of the company's stock worth $177,000 after purchasing an additional 4,734 shares during the period.

PACS Group Price Performance

Shares of PACS traded up $0.11 on Monday, hitting $10.18. The company's stock had a trading volume of 168,881 shares, compared to its average volume of 782,973. PACS Group, Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $43.92. The company has a 50 day moving average price of $10.79 and a 200 day moving average price of $15.72. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PACS shares. Truist Financial dropped their price objective on shares of PACS Group from $46.00 to $32.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Macquarie dropped their price target on shares of 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.00.

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.