Penserra Capital Management LLC Acquires 14,098 Shares of PACS Group, Inc. (NYSE:PACS)

Penserra Capital Management LLC raised its holdings in shares of PACS Group, Inc. (NYSE:PACS) by 87.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,128 shares of the company’s stock after purchasing an additional 14,098 shares during the quarter. Penserra Capital Management LLC’s holdings in PACS Group were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PACS. Caas Capital Management LP acquired a new position in PACS Group in the second quarter valued at about $1,386,000. Bank of New York Mellon Corp acquired a new stake in shares of PACS Group in the 2nd quarter valued at approximately $2,445,000. Allspring Global Investments Holdings LLC bought a new position in PACS Group during the 2nd quarter worth approximately $7,513,000. Rhumbline Advisers acquired a new position in PACS Group during the second quarter valued at approximately $870,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in PACS Group in the second quarter valued at approximately $552,000.

PACS Group Stock Up 2.4 %

NYSE PACS opened at $16.61 on Wednesday. PACS Group, Inc. has a 12-month low of $16.09 and a 12-month high of $43.92. The firm’s 50 day moving average is $33.47 and its 200-day moving average is $33.31. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Analyst Ratings Changes

Several brokerages have recently issued reports on PACS. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a report on Wednesday, November 6th. Truist Financial increased their price target on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group started coverage on PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 price objective on the stock. Oppenheimer increased their target price on PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Stephens cut their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PACS Group has an average rating of “Buy” and an average price target of $39.88.

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.