PACS Group (NYSE:PACS) Director Sells $223,767.96 in Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 4,966 shares of PACS Group stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the completion of the transaction, the director owned 53,920,512 shares in the company, valued at $2,429,658,270.72. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 8th, Mark Hancock sold 20,338 shares of PACS Group stock. The shares were sold at an average price of $45.07, for a total value of $916,633.66.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were sold at an average price of $45.33, for a total value of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total transaction of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The shares were sold at an average price of $45.02, for a total transaction of $273,721.60.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was 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 value of $5,569,250.36.

PACS Group Stock Down 1.3%

Shares of PACS traded down $0.58 during midday trading on Friday, hitting $43.24. 687,897 shares of the company’s stock traded hands, compared to its average volume of 941,230. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.32 and a beta of -0.08. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $45.89. The firm’s fifty day moving average is $37.93 and its 200-day moving average is $36.89.

PACS Group (NYSE:PACS) last announced its earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. lifted its holdings in shares of PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the period. Crewe Advisors LLC increased its holdings in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after buying an additional 1,035,747 shares during the period. Marshall Wace LLP increased its holdings in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock worth $13,880,000 after buying an additional 785,537 shares during the period. Ameriprise Financial Inc. increased its stake in shares of PACS Group by 120.4% in the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after acquiring an additional 617,124 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after acquiring an additional 614,250 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Oppenheimer lifted their target price on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Truist Financial upped their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.60.

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.