PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 6,899 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,899 shares of PACS Group stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $50.10, for a total value of $345,639.90. Following the completion of the transaction, the chief executive officer owned 54,181,301 shares of the company’s stock, valued at approximately $2,714,483,180.10. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Thursday, October 29th, Jason Murray sold 1,904 shares of PACS Group stock. The shares were sold at an average price of $50.05, for a total value of $95,295.20.
• On Friday, October 23rd, Jason Murray sold 68,917 shares of PACS Group stock. The shares were sold at an average price of $48.60, for a total value of $3,349,366.20.
• On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The stock was sold at an average price of $47.55, for a total transaction of $651,244.80.
• On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The shares were sold at an average price of $47.62, for a total transaction of $314,768.20.
• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The shares were sold at an average price of $47.65, for a total transaction 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 transaction of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total transaction 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 transaction of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.

PACS Group Trading Down 3.9%

PACS Group stock opened at $47.76 on Friday. The stock has a market cap of $7.56 billion, a P/E ratio of 27.77, a PEG ratio of 1.55 and a beta of -0.08. PACS Group, Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $50.38. The firm’s fifty day moving average price is $44.21 and its 200-day moving average price is $39.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Equities research analysts forecast that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PACS. Vise Technologies Inc. boosted its holdings in PACS Group by 40.6% in the third quarter. Vise Technologies Inc. now owns 7,209 shares of the company’s stock valued at $300,000 after acquiring an additional 2,081 shares in the last quarter. State of Wyoming increased its position in PACS Group by 11.9% during the 3rd quarter. State of Wyoming now owns 10,551 shares of the company’s stock valued at $438,000 after purchasing an additional 1,119 shares during the period. Smith Group Asset Management LLC raised its holdings in PACS Group by 1.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company’s stock worth $1,025,000 after purchasing an additional 320 shares in the last quarter. Jacobsen Capital Management raised its holdings in PACS Group by 3.4% in the 3rd quarter. Jacobsen Capital Management now owns 17,837 shares of the company’s stock worth $741,000 after purchasing an additional 579 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in PACS Group in the 3rd quarter worth $463,000.

Key Stories Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

• Neutral Sentiment: CEO Jason Murray, Director Mark Hancock, and Chief Accounting Officer Michelle Lewis collectively sold approximately 33,935 shares for about $1.70 million at prices near $50 per share. However, the transactions were executed under pre-arranged 10b5-1 plans, and the executives continue to hold substantial positions. The sales therefore appear more consistent with scheduled diversification or liquidity needs than a clear indication of weakening confidence. Mark Hancock insider-trading filing Jason Murray insider-trading filing Michelle Lewis insider-trading filing
• Negative Sentiment: A shareholder-focused law firm issued an alert encouraging PACS investors to contact the Shareholders Foundation regarding a potential lawsuit. The notice provides no confirmed allegations or details about the case in the supplied report, so the immediate financial impact is uncertain, but litigation-related headlines can create additional volatility and concern around the stock. PACS shareholder lawsuit alert

Analysts Set New Price Targets

A number of brokerages have commented on PACS. JPMorgan Chase & Co. increased their price target on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada increased their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Truist Financial set a $62.00 target price on shares of PACS Group in a research report on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

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.