PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 23,783 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 23,783 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02. Following the transaction, the chief executive officer owned 54,646,926 shares in the company, valued at approximately $2,346,539,002.44. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total value of $858,562.88.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total value of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

Shares of PACS Group stock opened at $43.04 on Friday. The company has a 50 day moving average of $44.65 and a 200-day moving average of $38.89. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $49.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.81 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.22 and a beta of -0.13.

PACS Group (NYSE:PACS) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. As a group, equities research analysts forecast that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PACS has been the topic of a number of research reports. Zacks Research raised shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial set a $62.00 price objective on PACS Group in a research note on Wednesday. Finally, UBS Group lifted their target price on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PACS Group has an average rating of “Buy” and an average price target of $56.00.

Institutional Trading of PACS Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PACS. Hollencrest Capital Management acquired a new stake in shares of PACS Group in the 4th quarter worth about $27,000. Financial Management Professionals Inc. boosted its stake in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock valued at $28,000 after purchasing an additional 235 shares during the last quarter. Quarry LP increased its holdings in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares in the last quarter. Larson Financial Group LLC increased its holdings in 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 purchasing an additional 612 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of PACS Group in the first quarter worth approximately $42,000.

Trending Headlines about PACS Group

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: Florida expansion adds significant scale. PACS plans to acquire operations of 32 nursing facilities in Florida, giving the company a new regional presence and potentially expanding revenue and operating synergies. PACS Group To Acquire Operations Of 32 Florida Facilities
• Positive Sentiment: Eduro transaction advances. PACS has closed on 31 of 34 Eduro buildings, while the remaining facilities are expected to be addressed separately. The completed transactions increase PACS’s operating footprint and support its acquisition-led growth strategy. PACS Group to enter Florida with 32 facilities; closes on 31 of 34 Eduro buildings
• Positive Sentiment: Analyst commentary was supportive. UBS said the Florida deal supports PACS’s broader market-expansion strategy, reinforcing the view that the transaction could improve the company’s long-term growth prospects. PACS’ Florida Deal Supports Market Expansion, UBS Says
• Neutral Sentiment: CEO Jason Murray sold shares under a preset plan. Murray sold a combined 68,113 PACS shares for approximately $2.90 million across September 1–3. The sales reduced his ownership by only about 0.12%; because they were executed under a pre-arranged Rule 10b5-1 plan, they provide limited evidence of a change in his outlook. He continues to own roughly 54.6 million shares. PACS CEO Form 4 filing

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.