PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 68,917 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 68,917 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $48.60, for a total value of $3,349,366.20. Following the completion of the sale, the chief executive officer directly owned 54,188,200 shares in the company, valued at $2,633,546,520. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The shares were sold at an average price of $47.55, for a total value of $651,244.80.
• On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The stock was sold at an average price of $47.62, for a total value 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 value 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 value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total value of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The stock was sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total transaction of $1,033,395.84.

PACS Group Trading Up 2.7%

Shares of NYSE PACS traded up $1.27 during midday trading on Monday, hitting $48.91. 1,093,217 shares of the company traded hands, compared to its average volume of 844,852. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $49.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average price of $43.85 and a 200 day moving average price of $39.65. The firm has a market cap of $7.74 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.49 and a beta of -0.08.

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

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its position in PACS Group by 94.7% during the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock valued at $2,538,000 after buying an additional 28,945 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in PACS Group in the third quarter worth $1,920,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PACS Group in the second quarter worth $1,893,000. Engineers Gate Manager LP purchased a new stake in shares of PACS Group in the second quarter worth $1,132,000. Finally, Smith Group Asset Management LLC purchased a new stake in shares of PACS Group in the first quarter worth $771,000.

Analysts Set New Price Targets

A number of research firms have recently commented on PACS. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group upped their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Truist Financial set a $62.00 price objective on PACS Group in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada raised their price objective on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

About PACS Group

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.