Insider Selling: PACS Group (NYSE:PACS) CEO Sells $1,046,238.93 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 24,057 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $43.49, for a total value of $1,046,238.93. Following the completion of the sale, the chief executive officer owned 54,579,624 shares of the company’s stock, valued at approximately $2,373,667,847.76. This represents a 0.04% decrease in their ownership of the stock. The sale 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 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 Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The stock was 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 shares were sold at an average price of $42.94, for a total value of $1,021,242.02.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total value of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Down 0.3%

PACS Group stock opened at $44.71 on Friday. PACS Group, Inc. has a 1-year low of $8.98 and a 1-year high of $49.49. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.40 and a beta of -0.13. The firm’s fifty day moving average price is $44.74 and its two-hundred day moving average price is $39.09. 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 posted its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, equities research analysts predict that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Several institutional investors have recently bought and sold shares of PACS. Vanguard Group Inc. lifted its position in shares of PACS Group by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,939,725 shares of the company’s stock valued at $54,092,000 after buying an additional 85,183 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. California State Teachers Retirement System increased its holdings in PACS Group by 3,298.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock worth $81,745,000 after acquiring an additional 1,860,680 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after acquiring an additional 545,348 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock valued at $18,543,000 after acquiring an additional 220,939 shares during the period.

Analyst Upgrades and Downgrades

PACS has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised their price objective on PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and an average price target of $58.80.

PACS Group Company Profile

PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.

The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.