PACS Group (NYSE:PACS) Insider Mark Hancock Sells 83,066 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 83,066 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40. Following the completion of the sale, the insider owned 54,366,277 shares of the company’s stock, valued at approximately $1,951,749,344.30. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Trading Down 1.5%

Shares of PACS stock opened at $35.35 on Thursday. The company has a 50 day moving average of $35.80 and a 200-day moving average of $35.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $43.08. The firm has a market cap of $5.60 billion and a P/E ratio of 22.66.

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, topping the consensus estimate 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 analyst estimates of $1.36 billion. Sell-side analysts anticipate that PACS Group, Inc. will post 2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jacobsen Capital Management boosted its holdings in PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after purchasing an additional 294 shares during the period. Larson Financial Group LLC boosted its holdings in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares during the period. Hollencrest Capital Management bought a new position in PACS Group in the 4th quarter valued at $27,000. Strategic Advocates LLC boosted its holdings in PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after purchasing an additional 808 shares during the period. Finally, Peterson Wealth Services boosted its holdings in PACS Group by 1.6% in the 1st quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock valued at $1,724,000 after purchasing an additional 854 shares during the period.

Wall Street Analysts Forecast Growth

PACS has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Oppenheimer increased their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. UBS Group increased their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada increased their target price on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.