PACS Group (NYSE:PACS) Stock Price Down 3.7% - Here's What Happened

Key Points

• PACS Group's stock price fell by 3.7% on Wednesday, trading as low as $12.85 before closing at $12.81, with significantly reduced trading volume at 119,412 shares compared to the average of 670,773 shares.
• Weiss Ratings reiterated a "sell" rating on PACS Group's stock, while four analysts rated it as a Buy, resulting in a consensus target price of $31.00.
• Several large investors have increased their positions in PACS Group, with notable growth including a 289.0% increase by Tower Research Capital LLC in the second quarter.

PACS Group, Inc. (NYSE:PACS - Get Free Report)'s share price traded down 3.7% on Wednesday . The stock traded as low as $12.85 and last traded at $12.81. 119,412 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 670,773 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of PACS Group in a research note on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

PACS Group Stock Down 4.0%

The stock has a fifty day moving average of $11.70 and a 200-day moving average of $11.17.

Hedge Funds Weigh In On PACS Group

Several large investors have recently made changes to their positions in PACS. Jones Financial Companies Lllp bought a new position in PACS Group during the first quarter valued at about $64,000. Tower Research Capital LLC TRC grew its position in PACS Group by 289.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company's stock worth $80,000 after acquiring an additional 4,581 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in PACS Group by 27.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,357 shares of the company's stock worth $134,000 after acquiring an additional 2,199 shares during the last quarter. GAMMA Investing LLC grew its position in PACS Group by 2,363.1% during the 1st quarter. GAMMA Investing LLC now owns 12,488 shares of the company's stock worth $140,000 after acquiring an additional 11,981 shares during the last quarter. Finally, State of Wyoming grew its position in PACS Group by 245.8% during the 1st quarter. State of Wyoming now owns 12,445 shares of the company's stock worth $140,000 after acquiring an additional 8,846 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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