PACS Group (NYSE:PACS) Insider Mark Hancock Sells 153,254 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 153,254 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $36.34, for a total value of $5,569,250.36. Following the completion of the sale, the insider directly owned 54,449,343 shares in the company, valued at $1,978,689,124.62. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $2,982,069.40.

PACS Group Stock Down 1.5%

PACS opened at $35.35 on Thursday. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $35.80 and its 200-day moving average is $35.96. The company has a market capitalization of $5.60 billion and a PE ratio of 22.66.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, equities analysts predict that PACS Group, Inc. will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On PACS Group

A number of institutional investors and hedge funds have recently modified their holdings of PACS. Jacobsen Capital Management grew its holdings in shares of PACS Group by 1.6% during the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after buying an additional 294 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of 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 in the last quarter. Hollencrest Capital Management purchased a new position in shares of PACS Group during the fourth quarter valued at $27,000. Strategic Advocates LLC grew its holdings in shares of PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after buying an additional 808 shares in the last quarter. Finally, Peterson Wealth Services grew its holdings in shares of PACS Group by 1.6% during the first quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock valued at $1,724,000 after buying an additional 854 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PACS shares. Truist Financial boosted their price objective on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. UBS Group boosted their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Royal Bank Of Canada boosted their target price on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

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.