PACS Group (NYSE:PACS) Director Sells $916,633.66 in Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 20,338 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $45.07, for a total value of $916,633.66. Following the completion of the transaction, the director owned 53,925,478 shares of the company’s stock, valued at $2,430,421,293.46. The trade was a 0.04% 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 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, July 9th, Mark Hancock sold 4,966 shares of PACS Group stock. The shares were sold at an average price of $45.06, for a total transaction of $223,767.96.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were sold at an average price of $45.33, for a total transaction of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total transaction of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The stock was sold at an average price of $45.02, for a total transaction of $273,721.60.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The shares were sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were sold at an average price of $40.33, for a total transaction 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 transaction of $2,248,540.80.
• 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 Up 0.0%

PACS opened at $43.24 on Monday. The company has a market capitalization of $6.84 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.29 and a beta of -0.08. The firm has a 50-day simple moving average of $38.13 and a two-hundred day simple moving average of $36.94. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $45.89.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PACS. Truist Financial upped their price objective on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings raised shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Oppenheimer increased their price objective on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, PACS Group has an average rating of “Moderate Buy” and an average target price of $50.60.

Hedge Funds Weigh In On PACS Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares during the period. Crewe Advisors LLC raised its stake in shares of 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 acquiring an additional 1,035,747 shares during the period. Maven Securities LTD purchased a new stake in shares of PACS Group in the fourth quarter valued at $960,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PACS Group in the first quarter valued at $6,762,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of PACS Group by 29.7% in the 4th quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock worth $6,528,000 after acquiring an additional 38,956 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.