Jason Hulse Murray Sells 84,717 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,717 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42. Following the completion of the transaction, the chief executive officer owned 54,845,416 shares in the company, valued at $2,427,458,112.16. The trade was a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 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 stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Trading Down 1.0%

Shares of PACS Group stock opened at $43.80 on Friday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.25 and a beta of -0.08. 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, 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 $43.38 and its two-hundred day moving average price is $38.48.

PACS Group (NYSE:PACS) last released its 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. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. On average, analysts forecast that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PACS shares. UBS Group boosted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Truist Financial raised their target price on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Oppenheimer boosted their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. 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, the company currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter valued at approximately $27,000. Financial Management Professionals Inc. boosted its position in PACS Group by 54.9% in 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 grew its stake in shares of 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 buying an additional 1,058 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of PACS Group by 127.0% during 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 acquired a new position in shares of PACS Group during the first quarter worth $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.