PACS Group (NYSE:PACS) Sees Strong Trading Volume - Should You Buy?

Key Points

• PACS Group experienced strong trading volume with approximately 513,479 shares traded, though this represents a 17% decline from the previous session's volume.
• The company's stock price rose by 6.8%, closing at $10.33, while the 50-day moving average stands at $11.47.
• Several institutional investors significantly increased their stakes in PACS, with Two Sigma Investments LP growing its position by 868.6% in the last quarter.

PACS Group, Inc. (NYSE:PACS - ) saw unusually-strong trading volume on Monday . Approximately 513,479 shares were traded during trading, a decline of 17% from the previous session's volume of 615,091 shares.The stock last traded at $10.33 and had previously closed at $9.75.

PACS Group Trading Up 6.8%

The stock's 50-day moving average is $11.47 and its 200 day moving average is $11.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Wellington Management Group LLP grew its position in PACS Group by 16.3% during the fourth 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 bought a new stake in PACS Group in the fourth quarter worth approximately $9,760,000. Two Sigma Investments LP grew its position in 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 acquiring an additional 681,116 shares in the last quarter. Ameriprise Financial Inc. grew its position in PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock worth $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in PACS Group by 4,211.6% in 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 in 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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