Mark Hancock Sells 63,680 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 63,680 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80. Following the sale, the insider owned 54,302,597 shares of the company’s stock, valued at approximately $1,917,424,700.07. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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

NYSE:PACS opened at $37.29 on Wednesday. The firm’s fifty day simple moving average is $36.01 and its 200 day simple moving average is $36.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $43.08. The firm has a market capitalization of $5.90 billion and a price-to-earnings ratio of 23.90.

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. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on PACS shares. Oppenheimer boosted their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial increased their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Finally, Royal Bank Of Canada upped their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently made changes to their positions in PACS. Hollencrest Capital Management bought a new stake in shares of PACS Group in the fourth quarter worth $27,000. Quarry LP boosted its stake in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after acquiring an additional 1,058 shares during the last quarter. Larson Financial Group LLC grew its holdings in PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares in the last quarter. KBC Group NV acquired a new position in PACS Group during the 1st quarter worth $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the 1st quarter worth about $48,000.

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.