Insider Selling: PACS Group (NYSE:PACS) CEO Sells $4,010,159.52 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 91,306 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.92, for a total value of $4,010,159.52. Following the transaction, the chief executive officer directly owned 54,754,110 shares in the company, valued at approximately $2,404,800,511.20. This represents a 0.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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, August 21st, Jason Hulse Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total value of $2,600,811.60.
• 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 transaction 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 transaction of $2,951,091.46.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Up 1.2%

Shares of NYSE:PACS opened at $44.47 on Thursday. The firm has a market capitalization of $7.04 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.24 and a beta of -0.08. The business has a 50 day simple moving average of $44.04 and a two-hundred day simple moving average of $38.71. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $49.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

PACS Group (NYSE:PACS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, equities analysts predict that PACS Group, Inc. will post 2.36 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PACS. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group raised their target price on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, PACS Group has an average rating of “Buy” and an average target price of $56.00.

Institutional Trading of PACS Group

A number of hedge funds have recently added to or reduced their stakes in PACS. Hollencrest Capital Management bought a new stake in shares of PACS Group in the 4th quarter valued at about $27,000. Financial Management Professionals Inc. boosted its stake in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares in the last quarter. Quarry LP boosted its stake in shares of PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after purchasing an additional 1,058 shares in the last quarter. Larson Financial Group LLC increased its holdings in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after buying an additional 612 shares during the period. Finally, KBC Group NV purchased a new position in PACS Group during the first quarter valued at approximately $42,000.

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.