PACS Group (NYSE:PACS) CEO Sells $1,024,015.23 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 24,157 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $42.39, for a total value of $1,024,015.23. Following the transaction, the chief executive officer directly owned 54,670,709 shares of the company’s stock, valued at approximately $2,317,491,354.51. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $42.56, for a total value of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The shares were sold at an average price of $42.94, for a total value of $1,021,242.02.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was 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 shares were 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 shares were 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 value of $3,736,024.32.

PACS Group Trading Down 0.1%

NYSE:PACS traded down $0.05 on Thursday, reaching $43.04. The stock had a trading volume of 570,338 shares, compared to its average volume of 664,940. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $49.49. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 1.22 and a beta of -0.13. The firm’s fifty day moving average is $44.65 and its two-hundred day moving average is $38.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91.

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

Hedge Funds Weigh In On PACS Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP lifted its stake in PACS Group by 1.8% during the second quarter. Corient Private Wealth LP now owns 152,846 shares of the company’s stock valued at $6,517,000 after buying an additional 2,680 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of PACS Group in the second quarter valued at $1,893,000. California State Teachers Retirement System boosted its position in PACS Group by 3,298.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock worth $81,745,000 after acquiring an additional 1,860,680 shares during the period. AXQ Capital LP lifted its position in shares of PACS Group by 13.3% in the second quarter. AXQ Capital LP now owns 21,247 shares of the company’s stock worth $906,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Nykredit A S purchased a new stake in PACS Group in the 2nd quarter worth approximately $95,000.

Analysts Set New Price Targets

PACS has been the subject of a number of recent analyst reports. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Oppenheimer upped their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Truist Financial set a $62.00 target price on shares of PACS Group in a research report on Wednesday. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.