PACS Group (NYSE:PACS) Insider Sells $2,508,205.50 in Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 61,931 shares of PACS Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $40.50, for a total value of $2,508,205.50. Following the sale, the insider directly owned 54,102,597 shares in the company, valued at $2,191,155,178.50. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was sold at an average price of $40.33, for a total value of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The shares were sold at an average price of $35.31, for a total value of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were 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 Down 0.2%

NYSE:PACS opened at $41.79 on Monday. The firm’s 50 day simple moving average is $36.40 and its 200 day simple moving average is $36.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a market cap of $6.61 billion and a PE ratio of 26.79.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PACS. Oppenheimer increased their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. UBS Group lifted their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Truist Financial upped their price target on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday. Finally, Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Institutional Investors Weigh In On PACS Group

A number of institutional investors have recently modified their holdings of PACS. Alyeska Investment Group L.P. increased its position in shares of PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after buying an additional 1,382,984 shares during the period. Crewe Advisors LLC lifted its holdings in PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after buying an additional 1,035,747 shares during the period. Royce & Associates LP lifted its holdings in PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after buying an additional 806,446 shares during the period. Marshall Wace LLP lifted its holdings in PACS Group by 348.6% in the third quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after buying an additional 785,537 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after acquiring an additional 617,124 shares during the last quarter.

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.