Mark Hancock Sells 142,163 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 142,163 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $45.33, for a total transaction of $6,444,248.79. Following the sale, the director directly owned 53,945,816 shares in the company, valued at $2,445,363,839.28. This trade represents a 0.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total value of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The shares were 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 shares were 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 stock was 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 Price Performance

PACS Group stock opened at $43.47 on Wednesday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.35 and a beta of -0.08. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week 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 stock’s 50 day moving average price is $37.55 and its two-hundred day moving average price is $36.78.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share 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 analyst estimates of $1.36 billion. On average, equities analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in PACS Group during the 4th quarter valued at about $27,000. Quarry LP boosted its position in shares of PACS Group by 79.5% in the third 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 period. Larson Financial Group LLC grew its stake in 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 PACS Group during the first quarter valued at approximately $42,000. Finally, Western Wealth Management LLC bought a new stake in PACS Group during the 1st quarter worth approximately $48,000.

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 Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial boosted their target price on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a report on Wednesday, June 24th. Oppenheimer increased their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. 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. Finally, Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.00.

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.