PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 232 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 232 shares of PACS Group stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $45.00, for a total transaction of $10,440.00. Following the completion of the transaction, the chief executive officer directly owned 54,435,017 shares in the company, valued at approximately $2,449,575,765. The trade was a 0.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total transaction of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total transaction of $5,201,354.45.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The shares were sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total value of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total transaction of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.

PACS Group Trading Down 1.7%

Shares of NYSE:PACS traded down $0.82 on Friday, hitting $46.93. The company had a trading volume of 958,006 shares, compared to its average volume of 803,212. The firm’s 50-day simple moving average is $43.58 and its two-hundred day simple moving average is $40.42. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.49 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a 1 year low of $10.31 and a 1 year high of $49.49.

PACS Group (NYSE:PACS) last announced 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. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equities analysts anticipate that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its position in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the period. GK Wealth Management LLC purchased a new stake in shares of PACS Group during the 3rd quarter valued at about $41,000. KBC Group NV purchased a new stake in shares of PACS Group during the 1st quarter valued at about $42,000. USA Financial Formulas purchased a new stake in shares of PACS Group during the 3rd quarter valued at about $46,000. Finally, Western Wealth Management LLC bought a new position in shares of PACS Group in the 1st quarter worth approximately $48,000.

Key Stories Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
• Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
• Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PACS. Truist Financial set a $62.00 target price on PACS Group in a research note on Wednesday, September 2nd. Zacks Research cut PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. upped their price target on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Oppenheimer raised their price objective on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.80.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.