PACS Group (NYSE:PACS) Insider Mark Hancock Sells 138,069 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 138,069 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77. Following the completion of the transaction, the insider owned 54,164,528 shares in the company, valued at approximately $2,184,455,414.24. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The shares were sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The shares were sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• 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 transaction of $5,569,250.36.

PACS Group Stock Up 2.7%

Shares of NYSE:PACS traded up $1.11 during midday trading on Friday, hitting $41.79. 1,918,410 shares of the stock were exchanged, compared to its average volume of 938,016. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. The business’s fifty day simple moving average is $36.26 and its two-hundred day simple moving average is $36.21. The company has a market capitalization of $6.61 billion and a PE ratio of 26.79.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. As a group, research analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PACS Group

Large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its position in shares of PACS Group by 76.6% in the third quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after acquiring an additional 806,446 shares during the period. Vanguard Group Inc. grew its stake 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 worth $172,994,000 after acquiring an additional 566,502 shares during the last quarter. Crewe Advisors LLC increased its position in PACS Group by 93.1% during the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after acquiring an additional 1,035,747 shares during the period. Fox Run Management L.L.C. raised its stake in PACS Group by 216.6% during the 3rd quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock valued at $501,000 after purchasing an additional 24,971 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in PACS Group during the 1st quarter valued at $6,762,000.

Analyst Ratings Changes

Several analysts have commented on PACS shares. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research downgraded shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Truist Financial lifted their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, May 18th. 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 report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

About PACS Group

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.