Insider Selling: PACS Group (NYSE:PACS) CEO Sells $3,736,024.32 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,602 shares of PACS Group stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.16, for a total value of $3,736,024.32. Following the completion of the transaction, the chief executive officer directly owned 54,996,930 shares in the company, valued at approximately $2,428,664,428.80. This represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total transaction of $2,951,091.46.

PACS Group Trading Up 1.3%

Shares of PACS Group stock opened at $44.13 on Friday. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $49.49. The company’s fifty day simple moving average is $43.54 and its 200-day simple moving average is $38.52. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.23 and a beta of -0.08. 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 earnings results 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. As a group, sell-side analysts expect that PACS Group, Inc. will post 2.36 EPS for the current year.

Institutional Investors Weigh In On PACS Group

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. Principal Financial Group Inc. acquired a new stake in PACS Group in the first quarter worth $3,171,000. Maven Securities LTD acquired a new stake in PACS Group in the fourth quarter worth $960,000. Smith Group Asset Management LLC bought a new position in shares of PACS Group during the first quarter worth $771,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PACS Group during the first quarter worth $6,762,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Truist Financial boosted their price target on PACS Group from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada upped 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. UBS Group raised their price objective on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $56.00.

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.