PACS Group (NYSE:PACS) Insider Mark Hancock Sells 138,069 Shares

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 138,069 shares of PACS Group stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77. Following the transaction, the insider directly owned 54,164,528 shares of the company’s stock, valued at approximately $2,184,455,414.24. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Trading Up 2.7%

Shares of PACS Group stock opened at $41.79 on Friday. The firm has a 50-day simple moving average of $36.40 and a two-hundred day simple moving average of $36.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $43.08. The company has a market cap of $6.61 billion and a P/E ratio of 26.79.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on PACS. UBS Group boosted their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Truist Financial upped their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Finally, Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On PACS Group

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in PACS Group during the first quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after acquiring an additional 1,443 shares during the period. Millennium Management LLC increased its holdings in PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in PACS Group in the 1st quarter valued at approximately $64,000. Finally, Caxton Associates LLP purchased a new stake in PACS Group in the first quarter valued at approximately $163,000.

PACS Group Company 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.