LMR Partners LLP Sells 28,992 Shares of PACS Group, Inc. (NYSE:PACS)

LMR Partners LLP cut its stake in shares of PACS Group, Inc. (NYSE:PACS) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,882 shares of the company’s stock after selling 28,992 shares during the quarter. LMR Partners LLP’s holdings in PACS Group were worth $2,553,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C purchased a new stake in shares of PACS Group in the second quarter valued at about $19,584,000. Lighthouse Investment Partners LLC bought a new position in shares of PACS Group in the second quarter valued at approximately $8,946,000. Millennium Management LLC bought a new position in shares of PACS Group in the second quarter valued at approximately $8,905,000. Ghisallo Capital Management LLC bought a new stake in PACS Group during the second quarter valued at approximately $8,850,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in PACS Group during the second quarter valued at approximately $7,513,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on PACS shares. Citigroup started coverage on shares of PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target on the stock. Oppenheimer lifted their target price on shares of PACS Group from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Stephens cut their price target on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial boosted their target price on shares of PACS Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, UBS Group assumed coverage on shares of PACS Group in a report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.88.

PACS Group Trading Down 2.8 %

PACS stock opened at $16.93 on Tuesday. 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 business’s fifty day simple moving average is $36.69 and its two-hundred day simple moving average is $33.71. PACS Group, Inc. has a twelve month low of $16.58 and a twelve month high of $43.92.

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.