Mark Hancock Sells 6,080 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 6,080 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.02, for a total value of $273,721.60. Following the sale, the director directly owned 54,100,804 shares in the company, valued at $2,435,618,196.08. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were sold at an average price of $45.33, for a total value of $6,444,248.79.
• 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 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 shares were 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 stock was 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 shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Trading Down 3.4%

Shares of PACS opened at $43.47 on Wednesday. The company’s fifty day simple moving average is $37.55 and its 200-day simple moving average is $36.78. The company has a market cap of $6.88 billion, a P/E ratio of 27.87, a P/E/G ratio of 1.35 and a beta of -0.08. 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 $45.89.

PACS Group (NYSE:PACS) last issued 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. 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 the consensus estimate of $1.36 billion. As a group, analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Institutional Trading of PACS Group

Large investors have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in PACS Group in the fourth quarter worth approximately $27,000. Quarry LP lifted its holdings in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after buying an additional 1,058 shares during the period. Larson Financial Group LLC grew 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 worth $42,000 after buying an additional 612 shares in the last quarter. KBC Group NV purchased a new position in shares of PACS Group during the first quarter valued at $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the first quarter valued at about $48,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PACS. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PACS Group in a research report on Wednesday, June 24th. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Truist Financial boosted their target price on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Key Headlines Impacting 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

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.