PACS Group (NYSE:PACS) Director Mark Hancock Sells 142,163 Shares of Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 142,163 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.33, for a total transaction of $6,444,248.79. Following the transaction, the director directly owned 53,945,816 shares in the company, valued at $2,445,363,839.28. The trade was a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total transaction of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The stock was sold at an average price of $45.02, for a total transaction of $273,721.60.
• 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 value of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were sold at an average price of $40.33, for a total value of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The shares were sold at an average price of $35.31, for a total value of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was sold at an average price of $35.90, for a total value of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The stock was sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Stock Performance

NYSE:PACS traded up $0.20 during 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. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. The firm has a 50 day moving average of $37.20 and a 200-day moving average of $36.64. 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 (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Research analysts expect that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

Institutional Trading of PACS Group

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

Analyst Ratings Changes

PACS has been the subject of a number of research reports. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Oppenheimer boosted their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

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.