Mark Hancock Sells 138,069 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 138,069 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77. Following the sale, the insider owned 54,164,528 shares of the company’s stock, valued at approximately $2,184,455,414.24. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 value of $2,508,205.50.
• 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 value of $2,248,540.80.
• 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 Trading Up 2.7%

PACS Group stock opened at $41.79 on Friday. The business has a 50-day simple moving average of $36.40 and a two-hundred day simple moving average of $36.25. The company has a market cap of $6.61 billion and a P/E ratio of 26.79. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27.

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

Trending Headlines about PACS Group

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

• Positive Sentiment: PACS Group continues to benefit from strong fundamentals after reporting quarterly EPS and revenue above analyst estimates, reinforcing confidence in its senior care business model.
• Positive Sentiment: Wall Street sentiment remains constructive, with multiple analysts rating PACS a Buy or better and consensus target prices above where the shares have recently traded.
• Neutral Sentiment: Insider selling by CAO Michelle Renee Lewis and insider Mark Hancock was disclosed, but both transactions were made under pre-arranged Rule 10b5-1 plans, which usually limits concerns about timing or hidden negative news.
• Neutral Sentiment: Recent articles mentioning “PACS” in political contexts refer to super PACs and are unrelated to PACS Group, Inc. and do not appear to affect the stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. UBS Group increased their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACS Group has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Hedge Funds Weigh In On PACS Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new stake in PACS Group in the 4th quarter valued at $27,000. Quarry LP boosted its holdings 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 purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC grew its position in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV bought a new stake in shares of PACS Group in the first quarter worth about $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the first quarter worth about $48,000.

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.