JPMorgan Chase & Co. Increases Holdings in PACS Group, Inc. (NYSE:PACS)

JPMorgan Chase & Co. boosted its position in shares of PACS Group, Inc. (NYSE:PACS) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,350,842 shares of the company’s stock after purchasing an additional 78,122 shares during the quarter. JPMorgan Chase & Co. owned about 0.89% of PACS Group worth $17,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of PACS Group in the 4th quarter worth approximately $126,000. Savant Capital LLC bought a new position in PACS Group in the fourth quarter worth approximately $142,000. Arizona State Retirement System lifted its holdings in PACS Group by 53.9% during the fourth quarter. Arizona State Retirement System now owns 13,510 shares of the company’s stock worth $177,000 after buying an additional 4,734 shares during the period. Bleakley Financial Group LLC bought a new stake in PACS Group during the 4th quarter valued at $179,000. Finally, SG Americas Securities LLC boosted its position in PACS Group by 40.3% during the 4th quarter. SG Americas Securities LLC now owns 19,249 shares of the company’s stock valued at $252,000 after acquiring an additional 5,528 shares in the last quarter.

PACS Group Stock Performance

Shares of PACS stock opened at $9.12 on Friday. PACS Group, Inc. has a fifty-two week low of $8.87 and a fifty-two 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. The stock’s 50-day simple moving average is $12.09 and its 200-day simple moving average is $19.02.

Analysts Set New Price Targets

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

PACS Group 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.