Jason Hulse Murray Sells 20,173 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 20,173 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $42.56, for a total value 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. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing 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 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 shares were sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction 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 stock was 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 NYSE PACS opened at $42.54 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $49.49. The firm’s 50-day moving average price is $44.66 and its 200-day moving average price is $38.92. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.22 and a beta of -0.13.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, equities research analysts anticipate that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PACS. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Truist Financial set a $62.00 price objective on shares of PACS Group in a research note on Wednesday. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, PACS Group presently has a consensus rating of “Buy” and a consensus price target of $58.80.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. boosted its holdings in 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 acquiring an additional 235 shares during the period. Jacobsen Capital Management increased its stake in PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after purchasing an additional 294 shares during the period. Larson Financial Group LLC increased its stake in 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 purchasing an additional 612 shares during the period. Hollencrest Capital Management bought a new stake in shares of PACS Group during the fourth quarter worth $27,000. Finally, Strategic Advocates LLC lifted its position in shares of PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after purchasing an additional 808 shares during the last quarter.

Trending Headlines about PACS Group

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

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.