PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 59,244 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 59,244 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $43.90, for a total value of $2,600,811.60. Following the completion of the transaction, the chief executive officer directly owned 54,694,866 shares in the company, valued at $2,401,104,617.40. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Thursday, August 20th, Jason Hulse Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52.
• On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total value of $2,951,091.46.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total value of $3,736,024.32.

PACS Group Stock Performance

PACS Group stock opened at $44.28 on Tuesday. The stock’s 50 day moving average price is $43.70 and its 200 day moving average price is $38.60. The firm has a market capitalization of $7.01 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.25 and a beta of -0.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. PACS Group, Inc. has a one year low of $7.50 and a one year high of $49.49.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, sell-side analysts expect that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PACS. Truist Financial lifted their price target on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research raised shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada lifted their target price on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $56.00.

Hedge Funds Weigh In On PACS Group

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in PACS Group by 3,298.3% in the second quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock worth $81,745,000 after purchasing an additional 1,860,680 shares in the last quarter. AXQ Capital LP raised its stake in PACS Group by 13.3% during the second quarter. AXQ Capital LP now owns 21,247 shares of the company’s stock valued at $906,000 after buying an additional 2,502 shares in the last quarter. Nykredit A S bought a new position in PACS Group during the 2nd quarter worth approximately $95,000. Bank of New York Mellon Corp bought a new position in PACS Group during the 2nd quarter worth approximately $8,196,000. Finally, Handelsbanken Fonder AB acquired a new position in shares of PACS Group in the 2nd quarter worth approximately $567,000.

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.