Insider Selling: PACS Group (NYSE:PACS) CEO Sells 84,602 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,602 shares of PACS Group stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.16, for a total value of $3,736,024.32. Following the transaction, the chief executive officer directly owned 54,996,930 shares of the company’s stock, valued at $2,428,664,428.80. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a legal filing 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 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 transaction 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.

PACS Group Price Performance

Shares of PACS traded up $0.45 during trading hours on Wednesday, reaching $44.24. 680,757 shares of the company traded hands, compared to its average volume of 897,858. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. The stock has a market capitalization of $7.00 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.24 and a beta of -0.08. The stock has a fifty day simple moving average of $43.20 and a 200 day simple moving average of $38.41. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

Wall Street Analyst Weigh In

PACS has been the topic of several recent research reports. Oppenheimer lifted their target price on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Royal Bank Of Canada increased their price objective on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One equities research 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. Based on data from MarketBeat, PACS Group currently has a consensus rating of “Buy” and an average price target of $56.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Hollencrest Capital Management bought a new stake in PACS Group in the fourth quarter worth $27,000. Financial Management Professionals Inc. raised its holdings in PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after buying an additional 235 shares in the last quarter. Quarry LP lifted its position in shares of PACS Group by 79.5% in the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares during the last quarter. Larson Financial Group LLC lifted its position 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 shares of PACS Group during the 1st quarter worth about $42,000.

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.