Insider Selling: PACS Group (NYSE:PACS) CEO Sells 84,717 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,717 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $44.26, for a total transaction of $3,749,574.42. Following the sale, the chief executive officer owned 54,845,416 shares of the company’s stock, valued at approximately $2,427,458,112.16. This represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

Shares of PACS traded up $0.45 during mid-day trading on Wednesday, hitting $44.24. 680,757 shares of the company’s stock were exchanged, compared to its average volume of 897,858. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. The business’s 50 day moving average is $43.20 and its two-hundred day moving average is $38.41. The firm has a market capitalization of $7.00 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.24 and a beta of -0.08.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, equities analysts expect that PACS Group, Inc. will post 2.36 earnings per share for the current year.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after acquiring an additional 1,382,984 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of PACS Group by 67.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after purchasing an additional 545,348 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of PACS Group by 19.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after purchasing an additional 220,939 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of PACS Group by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,020,636 shares of the company’s stock worth $39,189,000 after purchasing an additional 24,081 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PACS shares. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. UBS Group boosted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Truist Financial raised their target price on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, PACS Group currently has a consensus rating of “Buy” and an average target price of $56.00.

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.