Insider Selling: PACS Group (NYSE:PACS) CAO Sells $186,330.48 in Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,137 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total transaction of $186,330.48. Following the completion of the sale, the chief accounting officer directly owned 355,338 shares of the company’s stock, valued at approximately $16,004,423.52. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total transaction of $300,034.89.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total value of $189,042.00.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The stock was sold at an average price of $40.01, for a total value of $600,150.00.

PACS Group Stock Up 0.5%

NYSE:PACS traded up $0.20 during mid-day trading on Monday, reaching $44.68. The company’s stock had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $45.89. The stock has a fifty day moving average of $37.20 and a 200-day moving average of $36.64. The firm has a market capitalization of $7.07 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Equities research analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a report on Wednesday, June 24th. Truist Financial increased their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Oppenheimer raised their price target on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in PACS Group in the fourth quarter valued at about $27,000. Quarry LP increased its holdings in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares during the period. Larson Financial Group LLC raised its holdings in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the last quarter. KBC Group NV purchased a new stake in PACS Group in the first quarter valued at $42,000. Finally, Western Wealth Management LLC purchased a new position in shares of PACS Group during the 1st quarter valued at about $48,000.

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.