PACS Group (NYSE:PACS) Director Mark Hancock Sells 4,966 Shares of Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $45.06, for a total transaction of $223,767.96. Following the sale, the director owned 53,920,512 shares in the company, valued at approximately $2,429,658,270.72. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Wednesday, July 8th, Mark Hancock sold 20,338 shares of PACS Group stock. The stock was sold at an average price of $45.07, for a total transaction of $916,633.66.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were sold at an average price of $45.33, for a total transaction of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total transaction of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The shares were sold at an average price of $45.02, for a total transaction of $273,721.60.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was sold at an average price of $40.33, for a total transaction of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Price Performance

NYSE:PACS traded down $0.58 during midday trading on Friday, hitting $43.24. 687,897 shares of the stock were exchanged, compared to its average volume of 926,472. PACS Group, Inc. has a one year low of $7.50 and a one year high of $45.89. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.31 and a beta of -0.08. The business has a 50-day moving average price of $38.13 and a two-hundred day moving average price of $36.94. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. Sell-side analysts predict that PACS Group, Inc. will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PACS. Truist Financial raised their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. UBS Group lifted their price objective on shares of PACS Group from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Oppenheimer boosted their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and a consensus price target of $50.60.

Institutional Investors Weigh In On PACS Group

Several large investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of PACS Group during the fourth quarter worth $27,000. Financial Management Professionals Inc. boosted its position in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the period. Quarry LP increased its stake in PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares in the last quarter. Larson Financial Group LLC increased its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares in the last quarter. Finally, KBC Group NV purchased a new position in PACS Group in 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.