Insider Selling: PACS Group (NYSE:PACS) CEO Sells $858,562.88 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 20,173 shares of PACS Group stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $42.56, for a total transaction of $858,562.88. Following the transaction, the chief executive officer owned 54,626,753 shares of the company’s stock, valued at $2,324,914,607.68. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.
• 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 value 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 value of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The stock was 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 Stock Down 1.2%

Shares of PACS Group stock opened at $42.54 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $6.73 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.20 and a beta of -0.13. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $49.49. The company has a 50-day simple moving average of $44.66 and a two-hundred day simple moving average of $38.92.

PACS Group (NYSE:PACS) last posted 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, analysts anticipate that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

PACS Group News Summary

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

• Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
• Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
• Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
• Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing

Analyst Ratings Changes

PACS has been the subject of several recent analyst reports. Oppenheimer boosted their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. UBS Group lifted their price objective on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank Of Canada raised their price target on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $58.80.

Institutional Trading of PACS Group

Several large investors have recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in PACS Group during the fourth quarter valued at $27,000. Financial Management Professionals Inc. grew its stake in shares of PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the period. Quarry LP grew its stake in shares of PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares during the period. Larson Financial Group LLC boosted its holdings in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after buying an additional 612 shares during the last quarter. Finally, KBC Group NV bought a new stake in PACS Group during the first quarter valued at approximately $42,000.

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.