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

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in PACS Group during the fourth quarter worth about $47,000. KLP Kapitalforvaltning AS acquired a new position in PACS Group during the 4th quarter worth $126,000. Savant Capital LLC acquired a new stake in PACS Group in the 4th quarter valued at about $142,000. ProShare Advisors LLC boosted its stake in shares of PACS Group by 45.4% in the 4th quarter. ProShare Advisors LLC now owns 10,855 shares of the company’s stock valued at $142,000 after buying an additional 3,391 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of PACS Group during the fourth quarter worth approximately $161,000.

Wall Street Analyst Weigh In

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

PACS Group Stock Down 2.1 %

PACS Group stock traded down $0.24 during mid-day trading on Thursday, hitting $11.09. The company’s stock had a trading volume of 222,761 shares, compared to its average volume of 807,284. PACS Group has a 1 year low of $11.08 and a 1 year 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. The stock’s fifty day moving average is $13.24 and its two-hundred day moving average is $21.83.

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.