Jason Hulse Murray Sells 66,797 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 66,797 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46. Following the transaction, the chief executive officer owned 54,930,133 shares of the company’s stock, valued at $2,426,813,275.94. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total value of $3,749,574.42.
• 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 Down 1.0%

Shares of NYSE:PACS opened at $43.80 on Friday. The company’s fifty day moving average is $43.38 and its 200-day moving average is $38.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $49.49. The company has a market capitalization of $6.93 billion, a PE ratio of 25.47, a P/E/G ratio of 1.25 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Equities research analysts predict that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after acquiring an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of 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 worth $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of PACS Group by 67.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock worth $18,621,000 after acquiring an additional 545,348 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of PACS Group by 19.6% during the third 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 lifted its position in shares of PACS Group by 2.4% during the fourth 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 in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PACS shares. Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. UBS Group boosted their target price on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price target on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of “Buy” and a consensus 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.