Insider Selling: PACS Group (NYSE:PACS) CEO Sells $1,033,395.84 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 24,224 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $42.66, for a total value of $1,033,395.84. Following the completion of the transaction, the chief executive officer owned 54,471,941 shares of the company’s stock, valued at $2,323,773,003.06. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total transaction of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total transaction 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 transaction of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The shares were sold at an average price of $43.49, for a total value of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The stock was sold at an average price of $42.69, for a total value of $984,943.68.

PACS Group Trading Up 0.5%

Shares of PACS stock opened at $43.02 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.34 and a beta of -0.08. PACS Group, Inc. has a 12-month low of $10.31 and a 12-month high of $49.49. The stock’s 50-day moving average price is $43.74 and its 200-day moving average price is $39.87.

PACS Group (NYSE:PACS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. Equities research analysts predict that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PACS. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Truist Financial set a $62.00 price target on shares of PACS Group in a research note on Wednesday, September 2nd. Weiss Ratings lowered shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. UBS Group lifted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Institutional Trading of PACS Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after buying an additional 614,250 shares during the last quarter. 8 Knots Management LLC bought a new position in PACS Group during the fourth quarter valued at $23,421,000. Sei Investments Co. increased its position in PACS Group by 7.4% during the first quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock valued at $11,900,000 after acquiring an additional 25,462 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PACS Group by 44.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after acquiring an additional 89,067 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PACS Group in the first quarter valued at $6,762,000.

About PACS Group

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.