PACS Group (NYSE:PACS) Trading 5.7% Higher - Here's Why

Key Points

• PACS Group's stock price increased by 5.7% on Tuesday, reaching a high of $12.06 after closing at $11.41.
• Trading volume was significantly low, with only 14,395 shares changing hands, a 97% decrease from the average daily volume of 541,709 shares.
• Several hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and MetLife Investment Management LLC, have recently increased their stakes in PACS Group by over 6%.

PACS Group, Inc. (NYSE:PACS - Get Free Report)'s stock price rose 5.7% on Tuesday . The company traded as high as $11.86 and last traded at $12.06. Approximately 14,395 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 541,709 shares. The stock had previously closed at $11.41.

PACS Group Price Performance

The business's 50-day simple moving average is $12.07 and its two-hundred day simple moving average is $11.41.

Institutional Investors Weigh In On PACS Group

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of PACS Group by 11.9% during the fourth quarter. Barclays PLC now owns 70,882 shares of the company's stock valued at $929,000 after acquiring an additional 7,516 shares during the period. Legal & General Group Plc boosted its holdings in PACS Group by 31.8% during the fourth quarter. Legal & General Group Plc now owns 43,786 shares of the company's stock worth $574,000 after buying an additional 10,568 shares in the last quarter. Rhumbline Advisers boosted its holdings in PACS Group by 3.6% during the first quarter. Rhumbline Advisers now owns 52,380 shares of the company's stock worth $589,000 after buying an additional 1,840 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in PACS Group by 6.8% during the fourth quarter. Wells Fargo & Company MN now owns 34,317 shares of the company's stock worth $450,000 after buying an additional 2,196 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in PACS Group by 6.6% during the fourth quarter. MetLife Investment Management LLC now owns 24,539 shares of the company's stock worth $322,000 after buying an additional 1,527 shares in the last quarter.

PACS Group Company Profile

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.