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

Key Points

• PACS Group shares reached a new 52-week low of $7.90, down from a previous close of $11.32, indicating a significant decline in stock value during trading.
• Several hedge funds have recently increased their stakes in PACS Group, with Wellington Management Group boosting its investment by 16.3% and Janus Henderson Group increasing its stake by over 4,211.6% in the fourth quarter.
• The company's core operations include managing skilled nursing and assisted living facilities, showcasing its focus on the healthcare sector since its establishment in 2013.

PACS Group, Inc. (NYSE:PACS - ) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.00 and last traded at $7.90, with a volume of 1102869 shares trading hands. The stock had previously closed at $11.32.

PACS Group Stock Performance

The company's 50 day moving average is $11.81 and its two-hundred day moving average is $11.23.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in PACS Group by 16.3% during the 4th quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company's stock valued at $82,002,000 after purchasing an additional 878,358 shares in the last quarter. Man Group plc purchased a new position in shares of PACS Group in the fourth quarter worth about $9,760,000. Two Sigma Investments LP lifted its stake in shares of PACS Group by 868.6% in 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. Ameriprise Financial Inc. raised its stake in PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock worth $14,595,000 after purchasing an additional 617,124 shares during the period. Finally, Janus Henderson Group PLC increased 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 acquiring an additional 564,361 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.

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