KLP Kapitalforvaltning AS Buys Shares of 9,600 PACS Group, Inc. (NYSE:PACS)

KLP Kapitalforvaltning AS bought a new stake in PACS Group, Inc. (NYSE:PACS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,600 shares of the company’s stock, valued at approximately $126,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PACS. Barclays PLC lifted its holdings in shares of PACS Group by 651.3% during the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after purchasing an additional 54,932 shares during the period. JPMorgan Chase & Co. grew its position in PACS Group by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after purchasing an additional 70,786 shares during the period. Teacher Retirement System of Texas lifted its position in PACS Group by 526.1% in the 4th quarter. Teacher Retirement System of Texas now owns 56,210 shares of the company’s stock valued at $737,000 after acquiring an additional 47,232 shares in the last quarter. State Street Corp grew its stake in shares of PACS Group by 119.5% in the 3rd quarter. State Street Corp now owns 754,221 shares of the company’s stock worth $30,146,000 after acquiring an additional 410,606 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of PACS Group during the fourth quarter valued at approximately $772,000.

PACS Group Trading Up 7.1 %

Shares of PACS Group stock opened at $9.97 on Thursday. The business has a 50 day moving average of $12.30 and a 200 day moving average of $19.45. PACS Group, Inc. has a 52 week low of $9.00 and a 52 week high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of PACS Group in a research note on Tuesday, December 17th. Finally, Macquarie cut their price objective on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average target price of $34.00.

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.