PACS Group (NYSE:PACS) Insider Mark Hancock Sells 153,254 Shares

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 153,254 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider directly owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. The trade was a 0.28% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was sold at an average price of $35.90, for a total transaction of $2,982,069.40.

PACS Group Stock Down 1.5%

Shares of PACS traded down $0.54 during mid-day trading on Wednesday, hitting $35.35. The company’s stock had a trading volume of 610,743 shares, compared to its average volume of 925,067. The company’s 50-day moving average is $35.74 and its 200-day moving average is $35.93. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. The firm has a market capitalization of $5.60 billion and a price-to-earnings ratio of 22.66. 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 posted its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities research analysts forecast that PACS Group, Inc. will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PACS. Cubist Systematic Strategies LLC purchased a new position in shares of PACS Group during the first quarter worth $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PACS Group by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after purchasing an additional 1,443 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PACS Group by 68.3% during the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after purchasing an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of PACS Group during the first quarter worth $64,000. Finally, Caxton Associates LLP purchased a new position in shares of PACS Group during the first quarter worth $163,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PACS. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday. Royal Bank Of Canada boosted their price objective on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Truist Financial boosted their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Oppenheimer boosted their price objective on shares of PACS Group from $42.00 to $48.00 and gave the company 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.00.

PACS Group Company Profile

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.