Insider Selling: PACS Group (NYSE:PACS) Insider Sells 63,680 Shares

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 63,680 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $35.31, for a total transaction of $2,248,540.80. Following the sale, the insider directly owned 54,302,597 shares in the company, valued at approximately $1,917,424,700.07. The trade was a 0.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.
• 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 Stock Performance

PACS traded up $1.20 during mid-day trading on Monday, reaching $37.79. 899,109 shares of the company traded hands, compared to its average volume of 722,828. The stock has a market capitalization of $5.98 billion and a P/E ratio of 23.45. 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 52-week low of $7.50 and a 52-week high of $43.08. The company’s fifty day moving average price is $35.94 and its 200-day moving average price is $36.05.

PACS Group (NYSE:PACS) last posted its earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, sell-side analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Hedge Funds Weigh In On PACS Group

Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in PACS Group by 76.6% during the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after purchasing an additional 806,446 shares during the period. Vanguard Group Inc. raised its holdings in PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares during the period. Crewe Advisors LLC boosted its stake in PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of PACS Group by 216.6% during the 3rd quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock worth $501,000 after purchasing an additional 24,971 shares during the period. Finally, Maven Securities LTD bought a new position in shares of PACS Group during the fourth quarter valued at approximately $960,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PACS shares. Oppenheimer raised their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Royal Bank Of Canada boosted their price objective on PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.