Insider Selling: PACS Group (NYSE:PACS) CEO Sells 6,899 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 6,899 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $50.10, for a total value of $345,639.90. Following the completion of the transaction, the chief executive officer directly owned 54,181,301 shares in the company, valued at $2,714,483,180.10. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 29th, Jason Murray sold 1,904 shares of PACS Group stock. The stock was sold at an average price of $50.05, for a total value of $95,295.20.
• On Friday, October 23rd, Jason Murray sold 68,917 shares of PACS Group stock. The shares were sold at an average price of $48.60, for a total transaction of $3,349,366.20.
• On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The shares were sold at an average price of $47.55, for a total transaction of $651,244.80.
• On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The stock was sold at an average price of $47.62, for a total value of $314,768.20.
• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The stock was sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The shares were sold at an average price of $47.61, for a total value of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The stock was sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total value of $30,458.16.

PACS Group Stock Down 3.9%

Shares of NYSE:PACS traded down $1.92 during trading on Friday, hitting $47.76. 591,191 shares of the company’s stock traded hands, compared to its average volume of 824,846. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $44.21 and a 200-day moving average price of $39.79. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $50.38. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.55 and a beta of -0.08.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PACS. Royal Bank Of Canada increased their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Oppenheimer boosted their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. Weiss Ratings upgraded PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, UBS Group upped their price objective on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Institutional Trading of PACS Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in PACS Group by 11.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,327 shares of the company’s stock worth $97,000 after purchasing an additional 230 shares during the last quarter. Financial Management Professionals Inc. grew its position in PACS Group by 54.9% in 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 in the last quarter. Jacobsen Capital Management increased its stake in PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after buying an additional 294 shares during the last quarter. Smith Group Asset Management LLC boosted its stake in shares of PACS Group by 1.3% during the 3rd quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company’s stock worth $1,025,000 after buying an additional 320 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of PACS Group by 87.5% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,500 shares of the company’s stock valued at $62,000 after acquiring an additional 700 shares in the last quarter.

About PACS Group

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.