PACS Group (NYSE:PACS) CEO Sells $984,943.68 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 23,072 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $42.69, for a total value of $984,943.68. Following the completion of the transaction, the chief executive officer directly owned 54,603,681 shares of the company’s stock, valued at $2,331,031,141.89. This represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, 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, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total value of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The stock was sold at an average price of $43.49, for a total value of $1,046,238.93.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total value of $858,562.88.
• 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 stock was 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 shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Trading Down 0.3%

NYSE:PACS opened at $44.71 on Friday. PACS Group, Inc. has a one year low of $8.98 and a one year high of $49.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day simple moving average is $44.74 and its 200 day simple moving average is $39.09. The firm has a market capitalization of $7.08 billion, a P/E ratio of 25.99, a PEG ratio of 1.40 and a beta of -0.13.

PACS Group (NYSE:PACS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.41 billion. As a group, analysts forecast that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its position in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after purchasing an additional 235 shares during the period. Jacobsen Capital Management lifted its holdings in shares of PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after buying an additional 294 shares during the period. Larson Financial Group LLC lifted its holdings in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after buying an additional 612 shares during the period. Hollencrest Capital Management purchased a new position in shares of PACS Group in the 4th quarter worth $27,000. Finally, Strategic Advocates LLC boosted its stake in shares of PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after buying an additional 808 shares during the last quarter.

Wall Street Analyst Weigh In

PACS has been the subject of a number of recent research reports. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. UBS Group upped their price target on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Truist Financial set a $62.00 price objective on shares of PACS Group in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.