PACS Group (NYSE:PACS) Shares Gap Down – Should You Sell?

PACS Group, Inc. (NYSE:PACS)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $41.67, but opened at $38.40. PACS Group shares last traded at $36.6640, with a volume of 1,247,982 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of PACS Group in a report on Monday, December 22nd. Wall Street Zen upgraded shares of PACS Group from a “hold” rating to a “buy” rating in a research report on Sunday, February 15th. JPMorgan Chase & Co. assumed coverage on shares of PACS Group in a report on Wednesday, December 17th. They issued an “overweight” rating and a $44.00 price objective for the company. Zacks Research raised PACS Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Finally, UBS Group restated a “buy” rating and issued a $42.00 target price (down from $50.00) on shares of PACS Group in a research note on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.25.

PACS Group Trading Down 12.6%

The stock’s fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $24.08. The firm has a market cap of $5.70 billion, a PE ratio of 34.96, a PEG ratio of 1.31 and a beta of -0.65. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in PACS Group during the 4th quarter valued at about $27,000. Larson Financial Group LLC lifted its stake in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of PACS Group in the fourth quarter worth approximately $74,000. Quarry LP grew its holdings in shares of PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the last quarter. Finally, Strategic Advocates LLC bought a new stake in shares of PACS Group during the third quarter valued at approximately $60,000.

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.