Mark Hancock Sells 20,338 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 20,338 shares of PACS Group stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $45.07, for a total value of $916,633.66. Following the transaction, the director owned 53,925,478 shares in the company, valued at approximately $2,430,421,293.46. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Thursday, July 9th, Mark Hancock sold 4,966 shares of PACS Group stock. The stock was sold at an average price of $45.06, for a total value of $223,767.96.
• 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 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 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 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 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 Down 1.3%

PACS traded down $0.58 during trading on Friday, reaching $43.24. The company had a trading volume of 687,897 shares, compared to its average volume of 926,472. The company has a market cap of $6.84 billion, a P/E ratio of 27.72, a PEG ratio of 1.29 and a beta of -0.08. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $38.13 and its 200 day moving average price is $36.94.

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, topping 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 the consensus estimate of $1.36 billion. Equities analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PACS. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Truist Financial lifted 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. Finally, Oppenheimer boosted their target price on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, PACS Group currently has a consensus rating of “Moderate Buy” and an average price target of $50.60.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of PACS. Cubist Systematic Strategies LLC acquired a new stake in PACS Group in the first quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after acquiring an additional 1,443 shares during the period. Millennium Management LLC increased its stake in shares of PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after purchasing an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of PACS Group during the 1st quarter worth about $64,000. Finally, Caxton Associates LLP acquired a new position in shares of PACS Group during the 1st quarter worth about $163,000.

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.