PACS Group (NYSE:PACS) Director Sells 20,338 Shares

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 20,338 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $45.07, for a total transaction of $916,633.66. Following the completion of the transaction, the director directly owned 53,925,478 shares of the company’s stock, valued at approximately $2,430,421,293.46. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Thursday, July 9th, Mark Hancock sold 4,966 shares of PACS Group stock. The stock was sold at an average price of $45.06, for a total transaction of $223,767.96.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The stock was sold at an average price of $45.33, for a total value of $6,444,248.79.
• 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 value of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The shares were sold at an average price of $45.02, for a total value 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 stock was 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 stock was 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 shares were 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 shares were sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Price Performance

Shares of PACS traded down $0.58 during trading hours on Friday, reaching $43.24. 687,897 shares of the company’s stock traded hands, compared to its average volume of 941,230. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.84 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.32 and a beta of -0.08. The firm’s 50 day simple moving average is $37.93 and its 200-day simple moving average is $36.89.

PACS Group (NYSE:PACS) last posted its quarterly earnings data 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. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Equities analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PACS. Truist Financial upped their target price on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Oppenheimer upped their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.60.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PACS. Alyeska Investment Group L.P. boosted its position in PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after buying an additional 1,382,984 shares during the period. Crewe Advisors LLC increased its position in shares of PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after acquiring an additional 1,035,747 shares during the period. Marshall Wace LLP raised its stake in shares of PACS Group by 348.6% during the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after acquiring an additional 785,537 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after acquiring an additional 617,124 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares during the period.

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.