Jason Hulse Murray Sells 59,244 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 59,244 shares of PACS Group stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $43.90, for a total transaction of $2,600,811.60. Following the completion of the transaction, the chief executive officer directly owned 54,694,866 shares in the company, valued at approximately $2,401,104,617.40. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, August 20th, Jason Hulse Murray sold 91,306 shares of PACS Group stock. The shares were sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Hulse 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 Trading Down 0.7%

PACS opened at $43.96 on Wednesday. The stock has a market capitalization of $6.96 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.25 and a beta of -0.08. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $49.49. The firm’s fifty day simple moving average is $43.86 and its 200 day simple moving average is $38.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

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

Institutional Investors Weigh In On PACS Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of PACS Group during the 1st quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PACS Group by 6.6% in the first 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 last quarter. Millennium Management LLC increased its position in shares of PACS Group by 68.3% in the first quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after acquiring an additional 348,743 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in PACS Group during the first quarter worth about $64,000. Finally, Caxton Associates LLP bought a new stake in PACS Group during the first quarter worth about $163,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PACS shares. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. UBS Group lifted their target price on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Oppenheimer boosted their target price on PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Royal Bank Of Canada upped their price target on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of PACS Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACS Group currently has a consensus rating of “Buy” and an average price target of $56.00.

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.