Insider Selling: PACS Group (NYSE:PACS) Insider Sells $4,769,128.84 in Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 159,556 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $29.89, for a total transaction of $4,769,128.84. Following the completion of the sale, the insider directly owned 755,836 shares in the company, valued at $22,591,938.04. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

PACS Group Stock Performance

NYSE:PACS opened at $33.40 on Friday. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $33.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average price of $15.36 and a 200 day moving average price of $12.76. The stock has a market capitalization of $5.23 billion, a P/E ratio of 31.81 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PACS Group in a research note on Wednesday. Royal Bank Of Canada lifted their target price on PACS Group from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Wall Street Zen raised shares of PACS Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating and two have given 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 $26.75.

Hedge Funds Weigh In On PACS Group

A number of institutional investors and hedge funds have recently made changes to their positions in PACS. Vanguard Group Inc. raised its holdings in PACS Group by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,939,725 shares of the company’s stock valued at $54,092,000 after acquiring an additional 85,183 shares in the last quarter. Royce & Associates LP increased its position in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after purchasing an additional 806,446 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of 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 purchasing an additional 545,348 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 purchasing an additional 220,939 shares in the last quarter. Finally, Marshall Wace LLP lifted its position 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 last quarter.

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.