PACS Group (NYSE:PACS) Insider Sells $2,982,069.40 in Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 83,066 shares of PACS Group stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $35.90, for a total transaction of $2,982,069.40. Following the completion of the sale, the insider directly owned 54,366,277 shares of the company’s stock, valued at approximately $1,951,749,344.30. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Stock Performance

PACS stock opened at $36.67 on Friday. The company has a market cap of $5.80 billion and a P/E ratio of 23.51. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $43.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day moving average price is $35.91 and its 200-day moving average price is $35.98.

PACS Group (NYSE:PACS) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, equities analysts forecast that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Institutional Investors Weigh In On PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its stake in PACS Group by 159.5% in 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 last quarter. Crewe Advisors LLC raised its holdings in shares of PACS Group by 93.1% in the fourth 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. Royce & Associates LP raised its holdings in shares of PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after buying an additional 806,446 shares during the period. Marshall Wace LLP lifted its stake 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 acquiring an additional 785,537 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of PACS Group by 120.4% during the 2nd 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 last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Royal Bank Of Canada lifted their target price on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, UBS Group raised their price target on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

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.