PACS Group Sees Unusually High Options Volume (NYSE:PACS)

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

PACS Group Stock Performance

Shares of PACS Group stock traded down $0.42 on Tuesday, reaching $10.82. 457,938 shares of the company were exchanged, compared to its average volume of 818,736. PACS Group has a one year low of $10.32 and a one 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 company has a 50-day moving average of $13.07 and a 200 day moving average of $21.12.

Institutional Trading of PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of PACS Group by 2.5% during the 4th quarter. Rhumbline Advisers now owns 50,540 shares of the company’s stock worth $663,000 after purchasing an additional 1,217 shares during the last quarter. MetLife Investment Management LLC increased its position in PACS Group by 6.6% during the fourth quarter. MetLife Investment Management LLC now owns 24,539 shares of the company’s stock worth $322,000 after buying an additional 1,527 shares during the last quarter. Wells Fargo & Company MN raised its stake in PACS Group by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 34,317 shares of the company’s stock valued at $450,000 after buying an additional 2,196 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of PACS Group by 20.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,524 shares of the company’s stock valued at $204,000 after buying an additional 2,598 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of PACS Group by 1.4% during the 4th quarter. Bank of America Corp DE now owns 189,886 shares of the company’s stock worth $2,489,000 after acquiring an additional 2,702 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PACS shares. Macquarie decreased their price objective on PACS Group from $42.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Truist Financial decreased their price target on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price objective on shares of PACS Group in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.