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

PACS Group, Inc. (NYSE:PACS) saw some unusual options trading activity on Tuesday. Stock traders bought 2,936 call options on the company. This represents an increase of 192% compared to the typical volume of 1,006 call options.

Analysts Set New Price Targets

Several brokerages have commented on PACS. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a report on Tuesday, December 17th. Truist Financial decreased their price objective on PACS Group from $46.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Macquarie cut their target price on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in PACS Group during the 4th quarter valued at about $47,000. KLP Kapitalforvaltning AS bought a new position in shares of PACS Group during the 4th quarter valued at approximately $126,000. Savant Capital LLC purchased a new stake in PACS Group during the fourth quarter valued at $142,000. ProShare Advisors LLC increased its holdings 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 worth $142,000 after buying an additional 3,391 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in PACS Group in the fourth quarter worth about $161,000.

PACS Group Stock Down 5.7 %

Shares of NYSE PACS opened at $10.23 on Thursday. The firm has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $20.83. PACS Group has a 12 month low of $9.87 and a 12 month high of $43.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

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.