Wellington Management Group LLP Purchases 2,025,835 Shares of PACS Group, Inc. (NYSE:PACS)

Wellington Management Group LLP grew its position in PACS Group, Inc. (NYSE:PACS) by 60.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,376,551 shares of the company’s stock after acquiring an additional 2,025,835 shares during the period. Wellington Management Group LLP’s holdings in PACS Group were worth $214,901,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank bought a new stake in PACS Group in the 2nd quarter valued at $25,000. Whittier Trust Co. raised its position in shares of PACS Group by 152.2% in the third quarter. Whittier Trust Co. now owns 1,382 shares of the company’s stock valued at $55,000 after purchasing an additional 834 shares during the period. Crewe Advisors LLC acquired a new stake in shares of PACS Group during the 3rd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of PACS Group during the 3rd quarter worth about $251,000. Finally, US Bancorp DE grew its stake in PACS Group by 56.2% in the 3rd quarter. US Bancorp DE now owns 6,681 shares of the company’s stock valued at $267,000 after buying an additional 2,404 shares during the last quarter.

PACS Group Trading Up 6.1 %

PACS stock opened at $15.51 on Monday. PACS Group, Inc. has a 52 week low of $14.43 and a 52 week high of $43.92. The business has a 50-day simple moving average of $29.52 and a 200 day simple moving average of $32.63. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.82.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup initiated coverage on shares of PACS Group in a research report on Wednesday, September 11th. They set a “buy” rating and a $45.00 price objective for the company. Truist Financial boosted their price target on PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $40.00 price objective on shares of PACS Group in a research report on Wednesday, November 6th. Stephens reduced their target price on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Oppenheimer raised their price target on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $39.88.

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.