PACS Group (NYSE:PACS) CEO Sells $2,600,811.60 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 59,244 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $43.90, for a total value of $2,600,811.60. Following the sale, the chief executive officer directly owned 54,694,866 shares in the company, valued at $2,401,104,617.40. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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, August 20th, Jason Hulse Murray sold 91,306 shares of PACS Group stock. The shares were sold at an average price of $43.92, for a total value of $4,010,159.52.
• 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 Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

Shares of PACS opened at $44.47 on Thursday. The firm’s 50 day moving average price is $44.04 and its two-hundred day moving average price is $38.71. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $49.49. The firm has a market cap of $7.04 billion, a P/E ratio of 25.85, a PEG ratio of 1.24 and a beta of -0.08. 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 (NYSE:PACS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, analysts forecast that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of 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. lifted its holdings 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 purchasing an additional 1,382,984 shares during the last quarter. California State Teachers Retirement System lifted its holdings in PACS Group by 3,298.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock valued at $81,745,000 after purchasing an additional 1,860,680 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in PACS Group by 67.3% during the third 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 during the period. Finally, Ameriprise Financial Inc. boosted its position in 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 during the period.

Wall Street Analyst Weigh In

Several brokerages recently commented on PACS. Truist Financial increased their target price on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings cut shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, UBS Group upped 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $56.00.

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.