Insider Selling: PACS Group (NYSE:PACS) Insider Sells 61,931 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 61,931 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $40.50, for a total transaction of $2,508,205.50. Following the completion of the transaction, the insider owned 54,102,597 shares of the company’s stock, valued at approximately $2,191,155,178.50. The trade was a 0.11% 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 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 stock was sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Stock Performance

Shares of NYSE:PACS traded up $1.11 during midday trading on Friday, reaching $41.79. 1,918,410 shares of the company’s stock traded hands, compared to its average volume of 938,016. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a market cap of $6.61 billion and a price-to-earnings ratio of 26.79. The stock has a 50 day moving average of $36.26 and a 200 day moving average of $36.21.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts anticipate that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of PACS Group in the 4th quarter worth approximately $27,000. Quarry LP grew its position in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares during the period. Larson Financial Group LLC increased its holdings 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 buying an additional 612 shares during the last quarter. KBC Group NV purchased a new position in shares of PACS Group during the 1st quarter worth $42,000. Finally, Western Wealth Management LLC purchased a new position in shares of PACS Group during the 1st quarter worth $48,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PACS. Royal Bank Of Canada boosted their price objective on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. UBS Group lifted their target price on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.00.

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.