Insider Selling: PACS Group (NYSE:PACS) CEO Sells 26,052 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 26,052 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $42.51, for a total transaction of $1,107,470.52. Following the completion of the sale, the chief executive officer directly owned 54,496,165 shares in the company, valued at approximately $2,316,631,974.15. The trade was a 0.05% decrease in their position. 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.

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

• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total value of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total value of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The stock was sold at an average price of $43.33, for a total value of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The stock was sold at an average price of $43.49, for a total value of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The shares were sold at an average price of $42.69, for a total value of $984,943.68.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total value of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.

PACS Group Price Performance

Shares of NYSE PACS traded down $0.11 during midday trading on Monday, reaching $42.74. 844,528 shares of the company traded hands, compared to its average volume of 900,159. The firm has a market cap of $6.76 billion, a PE ratio of 24.85, a PEG ratio of 1.34 and a beta of -0.08. The stock’s 50-day simple moving average is $43.97 and its 200-day simple moving average is $39.70. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $49.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. As a group, equities analysts anticipate that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Large investors have recently modified their holdings of the stock. Financial Management Professionals Inc. grew its stake in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. KBC Group NV acquired a new stake in shares of PACS Group in the first quarter valued at approximately $42,000. Western Wealth Management LLC bought a new position in PACS Group in the 1st quarter worth approximately $48,000. Integrated Wealth Concepts LLC bought a new position in PACS Group in the 2nd quarter worth approximately $75,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in PACS Group during the 4th quarter worth $89,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 9th. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and an average target price of $58.80.

PACS Group Company Profile

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.