PACS Group (NYSE:PACS) Insider Mark Hancock Sells 63,680 Shares

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 63,680 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80. Following the completion of the transaction, the insider directly owned 54,302,597 shares in the company, valued at $1,917,424,700.07. This represents a 0.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.
• 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 Up 3.3%

Shares of PACS Group stock opened at $37.79 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $43.08. The business’s 50 day simple moving average is $35.94 and its 200-day simple moving average is $36.05. The stock has a market capitalization of $5.98 billion and a price-to-earnings ratio of 24.23.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on PACS. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. 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. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Truist Financial upped their price objective on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada increased their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, PACS Group presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Institutional Trading of PACS Group

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

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.