Jason Hulse Murray Sells 91,306 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 91,306 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.92, for a total value of $4,010,159.52. Following the completion of the sale, the chief executive officer owned 54,754,110 shares in the company, valued at approximately $2,404,800,511.20. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Friday, August 21st, Jason Hulse 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 Wednesday, August 19th, Jason Hulse 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 Hulse Murray sold 66,797 shares of PACS Group stock. The shares were 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 shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

NYSE:PACS traded up $0.03 on Monday, reaching $44.28. 544,951 shares of the company’s stock were exchanged, compared to its average volume of 928,421. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.25 and a beta of -0.08. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $49.49. The stock has a fifty day simple moving average of $43.54 and a 200-day simple moving average of $38.54.

PACS Group (NYSE:PACS) last posted its earnings results 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. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, sell-side analysts predict that PACS Group, Inc. will post 2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of PACS Group by 3,298.3% in the second quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock worth $81,745,000 after purchasing an additional 1,860,680 shares during the period. AXQ Capital LP grew its position in PACS Group by 13.3% during the second quarter. AXQ Capital LP now owns 21,247 shares of the company’s stock worth $906,000 after buying an additional 2,502 shares in the last quarter. Nykredit A S bought a new position in PACS Group in the 2nd quarter worth about $95,000. Bank of New York Mellon Corp bought a new position in PACS Group in the 2nd quarter worth about $8,196,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of PACS Group in the 2nd quarter valued at about $567,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PACS shares. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial lifted their price target on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Oppenheimer boosted their price objective on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price 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.