Insider Selling: PACS Group (NYSE:PACS) Insider Sells 61,931 Shares

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 61,931 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50. Following the completion of the transaction, the insider owned 54,102,597 shares of the company’s stock, valued at $2,191,155,178.50. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The shares were sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• 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 transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Stock Up 2.7%

PACS traded up $1.11 on Friday, hitting $41.79. The company had a trading volume of 1,918,410 shares, compared to its average volume of 938,016. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. The stock has a fifty day simple moving average of $36.26 and a 200-day simple moving average of $36.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $6.61 billion and a P/E ratio of 26.79.

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

Wall Street Analyst Weigh In

PACS has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group upped their price objective on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada raised their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Oppenheimer boosted their price target on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On PACS Group

Several large investors have recently modified their holdings of PACS. Cubist Systematic Strategies LLC bought a new position in PACS Group in the 1st quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after purchasing an additional 1,443 shares in the last quarter. Millennium Management LLC increased its stake in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in PACS Group in the first quarter worth about $64,000. Finally, Caxton Associates LLP purchased a new position in PACS Group in the first quarter worth about $163,000.

PACS Group Company Profile

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.