Michelle Renee Lewis Sells 4,200 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.01, for a total transaction of $189,042.00. Following the sale, the chief accounting officer owned 366,138 shares of the company’s stock, valued at $16,479,871.38. This represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Monday, July 6th, Michelle Renee Lewis sold 4,137 shares of PACS Group stock. The shares were sold at an average price of $45.04, for a total value of $186,330.48.
• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total value of $300,034.89.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The stock was sold at an average price of $40.01, for a total value of $600,150.00.

PACS Group Price Performance

NYSE:PACS opened at $43.47 on Wednesday. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $45.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market capitalization 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 stock’s fifty day moving average is $37.55 and its two-hundred day moving average is $36.78.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Equities analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

PACS Group News Roundup

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

Hedge Funds Weigh In On PACS Group

Several institutional investors have recently bought and sold shares of PACS. Alyeska Investment Group L.P. lifted its position in shares of PACS Group by 159.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares in the last quarter. 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% during 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% during 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PACS shares. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a report on Wednesday, June 24th. 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. Oppenheimer lifted their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, 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. 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 company has a consensus rating of “Moderate Buy” and an average price target 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.