PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 6,610 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,610 shares of the firm’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $47.62, for a total value of $314,768.20. Following the transaction, the chief executive officer directly owned 54,270,813 shares of the company’s stock, valued at approximately $2,584,376,115.06. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The shares were sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total value of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total value of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total value of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total value of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total value of $1,358,606.16.

PACS Group Trading Down 2.2%

PACS stock traded down $1.03 during trading on Wednesday, hitting $46.69. The company had a trading volume of 648,381 shares, compared to its average volume of 892,400. The business has a 50-day moving average of $43.58 and a 200-day moving average of $40.70. PACS Group, Inc. has a one year low of $10.31 and a one year high of $49.49. The stock has a market cap of $7.39 billion, a PE ratio of 27.14, a PEG ratio of 1.43 and a beta of -0.08. 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 (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Research analysts predict that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Oppenheimer lifted their target price on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group boosted their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.80.

Institutional Investors Weigh In On PACS Group

Several large investors have recently added to or reduced their stakes in PACS. Nisa Investment Advisors LLC increased its holdings in PACS Group by 11.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,327 shares of the company’s stock worth $97,000 after purchasing an additional 230 shares in the last quarter. USA Financial Formulas acquired a new position in PACS Group in the third quarter valued at approximately $46,000. Ellsworth Advisors LLC bought a new position in shares of PACS Group during the 3rd quarter worth approximately $914,000. State of Alaska Department of Revenue boosted its holdings in shares of PACS Group by 29.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,715 shares of the company’s stock worth $279,000 after buying an additional 1,511 shares in the last quarter. Finally, GK Wealth Management LLC bought a new position in shares of PACS Group during the 3rd quarter worth approximately $41,000.

About PACS Group

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.