Insider Selling: PACS Group (NYSE:PACS) Insider Sells 63,680 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 63,680 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80. Following the completion of the transaction, the insider owned 54,302,597 shares in the company, valued at approximately $1,917,424,700.07. The trade was a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were 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 value of $5,569,250.36.

PACS Group Stock Up 3.3%

NYSE PACS traded up $1.20 on Monday, reaching $37.79. 899,109 shares of the stock traded hands, compared to its average volume of 722,828. The company has a market cap of $5.98 billion and a price-to-earnings ratio of 23.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $43.08. The company has a fifty day moving average price of $35.94 and a 200-day moving average price of $36.05.

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

Hedge Funds Weigh In On PACS Group

Institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. lifted its holdings in PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after acquiring an additional 1,382,984 shares during the period. Crewe Advisors LLC grew its stake in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after purchasing an additional 1,035,747 shares during the period. Royce & Associates LP grew its stake in shares of PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the period. Marshall Wace LLP grew its stake in shares of PACS Group by 348.6% during the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after purchasing an additional 785,537 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of PACS Group by 120.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after purchasing an additional 617,124 shares in the last quarter.

Analyst Ratings Changes

PACS has been the subject of several analyst reports. UBS Group increased their price target on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Oppenheimer upped their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial raised their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.