Insider Selling: PACS Group (NYSE:PACS) CEO Sells 23,783 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 23,783 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02. Following the sale, the chief executive officer owned 54,646,926 shares in the company, valued at $2,346,539,002.44. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total value of $858,562.88.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The shares were sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason 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 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 Trading Down 0.1%

Shares of PACS Group stock traded down $0.05 during trading hours on Thursday, reaching $43.04. 570,338 shares of the company’s stock were exchanged, compared to its average volume of 664,940. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $49.49. The company has a fifty day moving average of $44.65 and a 200-day moving average of $38.89. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.22 and a beta of -0.13.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.41 billion. Sell-side analysts forecast that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Oppenheimer raised their price target on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. UBS Group lifted their price target on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Truist Financial set a $62.00 price objective on shares of PACS Group in a research note on Wednesday. Finally, Zacks Research raised shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.