Insider Selling: PACS Group (NYSE:PACS) CEO Sells 8,462 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 8,462 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $47.61, for a total transaction of $402,875.82. Following the completion of the sale, the chief executive officer owned 54,316,520 shares of the company’s stock, valued at $2,586,009,517.20. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total value of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The stock was sold at an average price of $45.00, for a total value of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The stock was sold at an average price of $42.48, for a total value of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total value of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total value of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The shares were sold at an average price of $42.51, for a total value of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total value of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total value of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total value of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total value of $396,098.36.

PACS Group Stock Performance

Shares of PACS stock traded down $0.82 during trading on Friday, reaching $46.93. 958,006 shares of the company’s stock were exchanged, compared to its average volume of 895,386. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $49.49. The firm’s fifty day moving average price is $43.61 and its 200-day moving average price is $40.37. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $7.43 billion, a PE ratio of 27.28, a PEG ratio of 1.40 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. As a group, sell-side analysts anticipate that PACS Group, Inc. will post 2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PACS. Oppenheimer increased their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 9th. 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 report on Thursday, August 6th. Truist Financial set a $62.00 price target on shares of PACS Group in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada upped their price target on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

Hedge Funds Weigh In On PACS Group

A number of large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares during the last quarter. Sei Investments Co. boosted its stake in PACS Group by 7.4% in the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock valued at $11,900,000 after purchasing an additional 25,462 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after purchasing an additional 89,067 shares during the period. Bank of New York Mellon Corp acquired a new position in PACS Group in the 2nd quarter valued at $8,196,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in PACS Group in the 1st quarter valued at $6,762,000.

PACS Group Company Profile

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.