Mark Hancock Sells 61,931 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 61,931 shares of PACS Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $40.50, for a total value of $2,508,205.50. Following the completion of the sale, the insider owned 54,102,597 shares of the company’s stock, valued at $2,191,155,178.50. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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 shares were 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 shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Price Performance

Shares of PACS opened at $41.79 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $36.40 and a 200-day moving average price of $36.25. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $43.08. The stock has a market capitalization of $6.61 billion and a PE ratio of 26.79.

PACS Group (NYSE:PACS) last issued 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. 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 analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PACS. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Truist Financial raised their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their target price on PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note 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. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Key PACS Group News

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.

Institutional Investors Weigh In On PACS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in PACS Group in the fourth quarter worth about $27,000. Larson Financial Group LLC increased its holdings 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 acquiring an additional 612 shares in the last quarter. KBC Group NV purchased a new position in shares of PACS Group in the 1st quarter valued at approximately $42,000. Western Wealth Management LLC purchased a new position in shares of PACS Group in the 1st quarter valued at approximately $48,000. Finally, Physician Wealth Advisors Inc. acquired a new stake in PACS Group in the 4th quarter worth approximately $74,000.

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.