Mark Hancock Sells 12,825 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 12,825 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $45.01, for a total transaction of $577,253.25. Following the completion of the transaction, the director directly owned 54,087,979 shares of the company’s stock, valued at approximately $2,434,499,934.79. This represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The stock was sold at an average price of $45.33, for a total transaction of $6,444,248.79.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The stock was sold at an average price of $45.02, for a total value of $273,721.60.
• 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 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 value 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 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 transaction 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 transaction of $5,569,250.36.

PACS Group Stock Performance

Shares of PACS stock opened at $43.47 on Wednesday. PACS Group, Inc. has a one year low of $7.50 and a one year high of $45.89. 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 $37.55 and a 200 day moving average price of $36.78. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.35 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.36 billion. Sell-side analysts anticipate 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 recently set a new 1-year high, reflecting continued momentum in the shares after a strong run. PACS Group Sets New 1-Year High – Still a Buy?
• Positive Sentiment: The company’s last earnings report beat expectations, with EPS and revenue coming in above consensus, which supports the bullish case for the stock. PACS Group stock overview
• Neutral Sentiment: Wall Street’s overall view remains favorable, with a consensus Moderate Buy rating and a price target around $48, though some analysts have recently been mixed on the name. PACS Group stock overview
• Negative Sentiment: Director Mark Hancock sold 142,163 shares in a pre-arranged Rule 10b5-1 plan, a large transaction that may raise concerns about insider confidence even though it was scheduled. PACS Group (NYSE:PACS) Director Sells 142,163 Shares
• Negative Sentiment: Chief Accounting Officer Michelle Renee Lewis also sold additional shares this week under a 10b5-1 plan, adding to the cluster of insider sales and potentially weighing on sentiment. PACS Group insider trading update

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PACS shares. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Oppenheimer raised their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Truist Financial lifted their target price on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Institutional Trading of PACS Group

A number of hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of 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 valued at $86,378,000 after purchasing an additional 1,382,984 shares during the period. Crewe Advisors LLC increased its stake in PACS Group by 93.1% during the 4th 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. Marshall Wace LLP increased its stake in 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 buying an additional 785,537 shares during the period. Ameriprise Financial Inc. lifted its holdings in PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock worth $14,595,000 after buying an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in PACS Group by 370.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after buying an additional 614,250 shares in the last quarter.

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.