PACS Group (NYSE:PACS) Insider Sells $5,569,250.36 in Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 153,254 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36. Following the transaction, the insider directly owned 54,449,343 shares of the company’s stock, valued at $1,978,689,124.62. The trade was a 0.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total value of $2,982,069.40.

PACS Group Stock Performance

Shares of NYSE:PACS opened at $36.67 on Friday. 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 business’s 50 day moving average price is $35.91 and its 200-day moving average price is $35.98. The firm has a market capitalization of $5.80 billion and a PE ratio of 23.51. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $43.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings data 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 net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities research analysts expect that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PACS. Hollencrest Capital Management acquired a new stake in shares of PACS Group during the fourth quarter valued at about $27,000. Quarry LP lifted its holdings in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after acquiring an additional 1,058 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after acquiring an additional 612 shares during the last quarter. KBC Group NV purchased a new position in shares of PACS Group during the 1st quarter worth approximately $42,000. Finally, Western Wealth Management LLC purchased a new position in shares of PACS Group during the 1st quarter worth approximately $48,000.

Analysts Set New Price Targets

Several research firms have weighed in on PACS. UBS Group boosted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Finally, Truist Financial increased their price objective on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.00.

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.