Insider Selling: PACS Group (NYSE:PACS) Insider Sells 27,389 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider John Todd Mitchell sold 27,389 shares of PACS Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.16, for a total value of $1,017,775.24. Following the completion of the transaction, the insider directly owned 803,566 shares in the company, valued at $29,860,512.56. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Todd Mitchell also recently made the following trade(s):

• On Friday, May 15th, John Todd Mitchell sold 52,763 shares of PACS Group stock. The shares were sold at an average price of $38.02, for a total value of $2,006,049.26.

PACS Group Trading Up 0.0%

Shares of NYSE PACS traded up $0.01 during midday trading on Tuesday, hitting $36.82. The stock had a trading volume of 951,411 shares, compared to its average volume of 951,625. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.14 and a beta of -0.03. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $43.08. 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 fifty day moving average price of $34.33 and a 200 day moving average price of $32.97.

PACS Group (NYSE:PACS) last released its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. On average, analysts predict that PACS Group, Inc. will post 2.19 earnings per share for the current year.

Institutional Investors Weigh In On PACS Group

Several hedge funds and other institutional investors have recently bought and sold shares of PACS. Cubist Systematic Strategies LLC purchased a new stake in PACS Group during the 1st quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after purchasing an additional 1,443 shares during the last quarter. Millennium Management LLC increased its holdings in 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 purchased a new stake in PACS Group during the 1st quarter worth approximately $64,000. Finally, Caxton Associates LLP purchased a new stake in PACS Group during the 1st quarter worth approximately $163,000.

Analyst Ratings Changes

Several research firms recently commented on PACS. Royal Bank Of Canada boosted their price target on PACS Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. UBS Group boosted their price target on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Truist Financial boosted their price target on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock 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.