Mark Hancock Sells 6,080 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 6,080 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.02, for a total transaction of $273,721.60. Following the completion of the sale, the director owned 54,100,804 shares of the company’s stock, valued at $2,435,618,196.08. The trade was a 0.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The stock was sold at an average price of $45.33, for a total transaction of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The shares were sold at an average price of $45.01, for a total transaction of $577,253.25.
• 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 Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was sold at an average price of $40.33, for a total transaction of $5,568,322.77.
• 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 value 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 value of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Trading Up 0.5%

Shares of PACS traded up $0.20 during trading hours on Monday, hitting $44.68. 1,312,827 shares of the stock traded hands, compared to its average volume of 948,595. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $45.89. The firm has a market capitalization of $7.07 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. The business has a fifty day moving average of $37.20 and a 200-day moving average of $36.64.

PACS Group (NYSE:PACS) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) 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 analysts’ expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Institutional Trading of PACS Group

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after buying an additional 566,502 shares in the last quarter. Crewe Advisors LLC boosted 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 valued at $82,455,000 after purchasing an additional 1,035,747 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in PACS Group in the first quarter valued at approximately $6,762,000. Corient Private Wealth LLC grew its stake in PACS Group by 29.7% in the fourth quarter. Corient Private Wealth LLC now owns 170,052 shares of the company’s stock valued at $6,528,000 after purchasing an additional 38,956 shares in the last quarter. Finally, Maven Securities LTD acquired a new position in shares of PACS Group during the 4th quarter worth approximately $960,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Wednesday, June 24th. Truist Financial upped their price objective on PACS Group from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, May 18th. Oppenheimer boosted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Zacks Research lowered shares of PACS Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.