PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 110,035 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 110,035 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $47.27, for a total transaction of $5,201,354.45. Following the transaction, the chief executive officer owned 54,324,982 shares in the company, valued at approximately $2,567,941,899.14. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total transaction 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 value 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 value of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total transaction of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total value of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The shares were sold at an average price of $45.16, for a total transaction of $396,098.36.

PACS Group Stock Down 1.7%

Shares of PACS traded down $0.82 during mid-day trading on Friday, reaching $46.93. 958,006 shares of the stock traded hands, compared to its average volume of 803,212. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $49.49. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.49 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $43.58 and a 200 day simple moving average of $40.42.

PACS Group (NYSE:PACS) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Sell-side analysts expect that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

PACS Group News Roundup

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
• Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
• Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.

Wall Street Analysts Forecast Growth

PACS has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of 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 target on shares of PACS Group in a report on Wednesday, September 2nd. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, Oppenheimer raised their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock valued at $25,051,000 after purchasing an additional 614,250 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PACS Group during the first quarter valued at approximately $6,762,000. Bank of New York Mellon Corp bought a new stake in shares of PACS Group during the second quarter valued at approximately $8,196,000. Principal Financial Group Inc. acquired a new position in shares of PACS Group during the first quarter worth approximately $3,171,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of PACS Group by 44.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock worth $9,274,000 after buying an additional 89,067 shares during the period.

PACS Group Company Profile

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.