Wells Fargo & Company MN Has $450,000 Stock Position in PACS Group, Inc. (NYSE:PACS)

Wells Fargo & Company MN increased its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,317 shares of the company’s stock after buying an additional 2,196 shares during the quarter. Wells Fargo & Company MN’s holdings in PACS Group were worth $450,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of PACS Group by 651.3% in the third quarter. Barclays PLC now owns 63,366 shares of the company’s stock worth $2,532,000 after acquiring an additional 54,932 shares in the last quarter. Virtu Financial LLC bought a new position in PACS Group in the third quarter valued at approximately $472,000. JPMorgan Chase & Co. boosted its holdings in shares of PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock valued at $50,871,000 after buying an additional 70,786 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of PACS Group during the fourth quarter worth $772,000. Finally, SG Americas Securities LLC raised its holdings in shares of PACS Group by 40.3% during the fourth quarter. SG Americas Securities LLC now owns 19,249 shares of the company’s stock worth $252,000 after acquiring an additional 5,528 shares during the period.

Analyst Upgrades and Downgrades

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

PACS Group Stock Performance

Shares of PACS Group stock opened at $10.09 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. PACS Group, Inc. has a 12-month low of $8.28 and a 12-month high of $43.92. The business’s 50 day moving average is $10.79 and its 200-day moving average is $15.90.

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.