MetLife Investment Management LLC Has $920,000 Stake in PACS Group, Inc. (NYSE:PACS)

MetLife Investment Management LLC grew its stake in PACS Group, Inc. (NYSE:PACS) by 261.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,012 shares of the company’s stock after buying an additional 16,641 shares during the period. MetLife Investment Management LLC’s holdings in PACS Group were worth $920,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in PACS Group by 174.4% during the third quarter. FMR LLC now owns 1,641,651 shares of the company’s stock valued at $65,617,000 after purchasing an additional 1,043,399 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in PACS Group in the 2nd quarter valued at $19,584,000. Lighthouse Investment Partners LLC acquired a new position in PACS Group in the 2nd quarter valued at $8,946,000. Millennium Management LLC bought a new position in PACS Group in the 2nd quarter worth $8,905,000. Finally, Ghisallo Capital Management LLC acquired a new position in PACS Group during the 2nd quarter worth $8,850,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PACS. Truist Financial lifted their price objective on PACS Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $40.00 price target on shares of PACS Group in a research report on Wednesday, November 6th. Citigroup initiated coverage on shares of PACS Group in a research note on Wednesday, September 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Oppenheimer upped their target price on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, UBS Group began coverage on shares of PACS Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $50.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $39.88.

PACS Group Stock Performance

Shares of PACS stock opened at $15.51 on Friday. The stock’s fifty day simple moving average is $29.52 and its 200 day simple moving average is $32.56. PACS Group, Inc. has a one year low of $14.43 and a one year high of $43.92. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

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.