Mark Hancock Sells 83,066 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 83,066 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $35.90, for a total value of $2,982,069.40. Following the completion of the sale, the insider owned 54,366,277 shares in the company, valued at $1,951,749,344.30. The trade was a 0.15% decrease in their position. The sale was disclosed in a legal 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.

Mark Hancock also recently made the following trade(s):

• 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 Up 4.1%

PACS Group stock opened at $36.67 on Friday. The business’s 50-day moving average price is $35.88 and its 200 day moving average price is $35.98. 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 firm has a market cap of $5.80 billion and a price-to-earnings ratio of 23.51. PACS Group, Inc. has a 52 week low of $7.50 and a 52 week high of $43.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Institutional Trading of PACS Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of PACS Group by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock valued at $86,378,000 after buying an additional 1,382,984 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after buying an additional 1,035,747 shares in the last quarter. Royce & Associates LP lifted its position in shares of PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after buying an additional 806,446 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after acquiring an additional 545,348 shares during the period.

Wall Street Analysts Forecast Growth

PACS has been the subject of several analyst reports. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial raised their price target on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their price objective on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Finally, Oppenheimer upped their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, PACS Group presently has an average rating of “Moderate Buy” and an average target price 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.