PACS Group (NYSE:PACS) Insider Sells $5,568,322.77 in Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 138,069 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $40.33, for a total value of $5,568,322.77. Following the completion of the sale, the insider owned 54,164,528 shares of the company’s stock, valued at approximately $2,184,455,414.24. This represents a 0.25% 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.

Mark Hancock also recently made the following trade(s):

• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The stock was sold at an average price of $40.50, for a total value of $2,508,205.50.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total value of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was sold at an average price of $35.90, for a total value of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Trading Down 0.2%

NYSE PACS opened at $41.79 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08. The business has a 50 day moving average price of $36.40 and a 200-day moving average price of $36.28. The company has a market cap of $6.61 billion and a price-to-earnings ratio of 26.79.

PACS Group (NYSE:PACS) last issued its earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PACS has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. UBS Group upped their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Truist Financial lifted their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Institutional Trading of PACS Group

Several institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of PACS Group in the fourth quarter valued at about $27,000. Quarry LP boosted its holdings in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC grew its position in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV bought a new stake in PACS Group in the 1st quarter worth about $42,000. Finally, Western Wealth Management LLC purchased a new stake in PACS Group in the 1st quarter valued at about $48,000.

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.