PACS Group (NYSE:PACS) Insider Sells $2,006,049.26 in Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 52,763 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $38.02, for a total transaction of $2,006,049.26. Following the transaction, the insider owned 830,955 shares of the company’s stock, valued at $31,592,909.10. The trade was a 5.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Todd Mitchell also recently made the following trade(s):

• On Monday, May 18th, John Todd Mitchell sold 27,389 shares of PACS Group stock. The stock was sold at an average price of $37.16, for a total transaction of $1,017,775.24.

PACS Group Stock Up 0.0%

PACS traded up $0.01 during trading hours on Tuesday, hitting $36.82. 951,411 shares of the company’s stock were exchanged, compared to its average volume of 951,625. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $43.08. The stock’s 50-day moving average is $34.33 and its two-hundred day moving average is $32.97. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.14 and a beta of -0.03. 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 (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Sell-side analysts predict that PACS Group, Inc. will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in PACS Group during the fourth quarter worth $27,000. Quarry LP raised its position in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares in the last quarter. Larson Financial Group LLC raised its position in PACS Group by 127.0% during the fourth 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 bought a new stake in PACS Group during the first quarter worth $42,000. Finally, Strategic Advocates LLC bought a new stake in PACS Group during the third quarter worth $60,000.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer increased their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Truist Financial upped their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Finally, UBS Group upped their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company 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.