John Todd Mitchell Sells 52,763 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 52,763 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the completion of the transaction, the insider directly owned 830,955 shares of the company’s stock, valued at approximately $31,592,909.10. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Todd Mitchell also recently made the following trade(s):

• On Monday, May 18th, John Todd Mitchell sold 27,389 shares of PACS Group stock. The stock was sold at an average price of $37.16, for a total transaction of $1,017,775.24.

PACS Group Price Performance

Shares of NYSE PACS traded up $0.01 during trading on Tuesday, reaching $36.82. The company had a trading volume of 951,411 shares, compared to its average volume of 951,625. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08. The stock has a market cap of $5.83 billion, a PE ratio of 23.60, a PEG ratio of 1.14 and a beta of -0.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $34.33 and its 200-day moving average price is $32.97.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Analysts expect that PACS Group, Inc. will post 2.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PACS shares. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Truist Financial boosted their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada boosted their price target on shares of PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Oppenheimer boosted their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, UBS Group boosted their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Five equities 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PACS. Cubist Systematic Strategies LLC acquired a new position in shares of PACS Group in the first quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PACS Group by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after buying an additional 1,443 shares during the period. Millennium Management LLC boosted its holdings in shares of PACS Group by 68.3% in the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of PACS Group in the first quarter valued at approximately $64,000. Finally, Caxton Associates LLP acquired a new position in shares of PACS Group in the first quarter valued at approximately $163,000.

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.