PACS Group (NYSE:PACS) Shares Up 5.1% - Time to Buy?

Key Points

• PACS Group's shares surged by 5.1% during mid-day trading on Friday, reaching a high of $13.34 after closing at $12.69.
• Recent institutional investments include substantial increases by Tower Research Capital LLC, which boosted its stake by 289%, and GAMMA Investing LLC, which increased its stake by 2,363%.
• PACS Group operates skilled nursing and assisted living facilities in the U.S., focusing on the acquisition and leasing of health care-related properties since its founding in 2013.

PACS Group, Inc. (NYSE:PACS - )'s share price shot up 5.1% during mid-day trading on Friday . The company traded as high as $13.32 and last traded at $13.34. 193,825 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 651,946 shares. The stock had previously closed at $12.69.

PACS Group Price Performance

The stock has a 50-day simple moving average of $11.36 and a 200-day simple moving average of $11.08.

Institutional Trading of PACS Group

Hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of PACS Group during the fourth quarter valued at about $47,000. Jones Financial Companies Lllp acquired a new stake in shares of PACS Group during the first quarter valued at about $64,000. Tower Research Capital LLC TRC boosted its stake in shares of PACS Group by 289.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company's stock valued at $80,000 after purchasing an additional 4,581 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of PACS Group by 27.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company's stock valued at $134,000 after purchasing an additional 2,199 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of PACS Group by 2,363.1% during the first quarter. GAMMA Investing LLC now owns 12,488 shares of the company's stock valued at $140,000 after purchasing an additional 11,981 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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