Insider Selling: PACS Group (NYSE:PACS) CEO Sells $476,226.67 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 10,529 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $45.23, for a total transaction of $476,226.67. Following the sale, the chief executive officer directly owned 54,555,566 shares of the company’s stock, valued at approximately $2,467,548,250.18. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The shares were sold at an average price of $43.49, for a total transaction of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The shares were sold at an average price of $42.69, for a total transaction of $984,943.68.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total value of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total value of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52.

PACS Group Price Performance

PACS traded down $0.15 during trading hours on Monday, hitting $44.61. The company’s stock had a trading volume of 759,862 shares, compared to its average volume of 904,574. The business’s 50-day moving average price is $44.74 and its 200-day moving average price is $39.08. PACS Group, Inc. has a 12 month low of $9.69 and a 12 month high of $49.49. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.40 and a beta of -0.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in PACS Group in the second quarter worth about $252,000. Engineers Gate Manager LP bought a new position in shares of PACS Group during the second quarter valued at approximately $1,132,000. Integrated Wealth Concepts LLC purchased a new stake in shares of PACS Group in the second quarter worth approximately $75,000. Squarepoint Ops LLC lifted its stake in shares of PACS Group by 94.7% during the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company’s stock worth $2,538,000 after acquiring an additional 28,945 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of PACS Group during the 2nd quarter worth approximately $95,000.

Wall Street Analyst Weigh In

Several research firms recently commented on PACS. Oppenheimer lifted their price target on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial set a $62.00 target price on PACS Group in a report on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their target price on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Finally, Royal Bank Of Canada increased 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.80.

About PACS Group

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.