PACS Group (NYSE:PACS) Director Mark Hancock Sells 186,696 Shares of Stock

PACS Group, Inc. (NYSE:PACS – Get Free Report) Director Mark Hancock sold 186,696 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $50.45, for a total transaction of $9,418,813.20. Following the sale, the director directly owned 53,318,884 shares in the company, valued at $2,689,937,697.80. The trade was a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

  • On Thursday, October 29th, Mark Hancock sold 4,280 shares of PACS Group stock. The shares were sold at an average price of $50.02, for a total value of $214,085.60.
  • On Wednesday, October 28th, Mark Hancock sold 9,024 shares of PACS Group stock. The shares were sold at an average price of $50.10, for a total transaction of $452,102.40.
  • On Tuesday, September 15th, Mark Hancock sold 155,682 shares of PACS Group stock. The stock was sold at an average price of $42.47, for a total transaction of $6,611,814.54.
  • On Monday, September 14th, Mark Hancock sold 144,318 shares of PACS Group stock. The shares were sold at an average price of $44.57, for a total transaction of $6,432,253.26.

PACS Group Price Performance

PACS opened at $50.63 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day simple moving average is $44.42 and its two-hundred day simple moving average is $39.91. PACS Group, Inc. has a 52-week low of $10.31 and a 52-week high of $51.68. The stock has a market capitalization of $8.01 billion, a P/E ratio of 21.32, a P/E/G ratio of 1.46 and a beta of -0.14.

PACS Group (NYSE:PACS – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. PACS Group had a net margin of 4.87% and a return on equity of 33.39%. As a group, analysts predict that PACS Group, Inc. will post 2.13 EPS for the current year.

Key Stories Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently modified their holdings of the stock. Fulcrum Asset Management LLP increased its position in PACS Group by 244.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 11,014 shares of the company’s stock valued at $465,000 after buying an additional 7,820 shares in the last quarter. Vise Technologies Inc. increased its stake in PACS Group by 40.6% during the 3rd quarter. Vise Technologies Inc. now owns 7,209 shares of the company’s stock valued at $300,000 after purchasing an additional 2,081 shares in the last quarter. State of Wyoming grew its holdings in shares of PACS Group by 11.9% during the third quarter. State of Wyoming now owns 10,551 shares of the company’s stock valued at $438,000 after buying an additional 1,119 shares during the last quarter. Smith Group Asset Management LLC raised its stake in PACS Group by 1.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company’s stock worth $1,025,000 after acquiring an additional 320 shares during the last quarter. Finally, Jacobsen Capital Management raised its stake in PACS Group by 3.4% in the 3rd quarter. Jacobsen Capital Management now owns 17,837 shares of the company’s stock worth $741,000 after acquiring an additional 579 shares during the last quarter.

Analyst Ratings Changes

PACS has been the topic of a number of recent analyst reports. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Oppenheimer boosted their target price on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Truist Financial set a $62.00 price target on PACS Group in a research note on Wednesday, September 2nd. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and an average target price of $58.80.

View Our Latest Analysis on PACS Group

About PACS Group

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for PACS Group (NYSE:PACS)

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