Stock Traders Purchase High Volume of PACS Group Put Options (NYSE:PACS)

PACS Group, Inc. (NYSE:PACS) saw unusually large options trading activity on Thursday. Traders bought 18,485 put options on the company. This is an increase of approximately 2,095% compared to the average volume of 842 put options.

Analyst Ratings Changes

PACS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of PACS Group in a research report on Tuesday, December 17th. Macquarie lowered their target price on shares of PACS Group from $42.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial dropped their target price on PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

PACS Group Price Performance

Shares of PACS stock opened at $10.91 on Friday. The business’s 50 day moving average price is $13.13 and its 200-day moving average price is $21.56. PACS Group has a fifty-two week low of $10.66 and a fifty-two week high of $43.92. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82.

Institutional Investors Weigh In On PACS Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. grew its position in shares of PACS Group by 1.5% in the 4th quarter. Cohen & Steers Inc. now owns 9,721,887 shares of the company’s stock worth $127,437,000 after buying an additional 139,767 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PACS Group by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 6,254,909 shares of the company’s stock worth $82,002,000 after buying an additional 878,358 shares during the last quarter. Vanguard Group Inc. lifted its position in PACS Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,929,545 shares of the company’s stock valued at $51,516,000 after purchasing an additional 237,069 shares in the last quarter. Zimmer Partners LP lifted its holdings in PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares in the last quarter. Finally, FMR LLC raised 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 acquiring an additional 1,043,399 shares during the period.

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.