PACS Group (NYSE:PACS) Director Mark Hancock Sells 9,024 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 9,024 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $50.10, for a total transaction of $452,102.40. Following the completion of the transaction, the director directly owned 53,509,860 shares in the company, valued at approximately $2,680,843,986. The trade was a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Thursday, October 29th, Mark Hancock sold 4,280 shares of PACS Group stock. The shares were sold at an average price of $50.02, for a total value of $214,085.60.
• On Tuesday, September 15th, Mark Hancock sold 155,682 shares of PACS Group stock. The stock was sold at an average price of $42.47, for a total value of $6,611,814.54.
• On Monday, September 14th, Mark Hancock sold 144,318 shares of PACS Group stock. The stock was sold at an average price of $44.57, for a total value of $6,432,253.26.

PACS Group Stock Down 3.9%

PACS stock opened at $47.76 on Friday. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $50.38. 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’s 50 day moving average is $44.21 and its 200-day moving average is $39.79. The firm has a market capitalization of $7.56 billion, a PE ratio of 27.77, a P/E/G ratio of 1.55 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, topping the consensus estimate 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 return on equity of 29.55% and a net margin of 4.85%. Sell-side analysts expect that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PACS shares. Truist Financial set a $62.00 target price on shares of PACS Group in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their price target on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada lifted their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently bought and sold shares of PACS. Dimensional Fund Advisors LP lifted its stake in PACS Group by 370.2% in 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 in the last quarter. Bank of New York Mellon Corp bought a new position in PACS Group in the 2nd quarter valued at $8,196,000. Principal Financial Group Inc. purchased a new position in shares of PACS Group during the 1st quarter valued at $3,171,000. Arrowstreet Capital Limited Partnership grew its position in shares of PACS Group by 44.6% during 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 in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of PACS Group during the 3rd quarter valued at $1,920,000.

Key Headlines Impacting PACS Group

Here are the key news stories impacting PACS Group this week:

• Neutral Sentiment: CEO Jason Murray, Director Mark Hancock, and Chief Accounting Officer Michelle Lewis collectively sold approximately 33,935 shares for about $1.70 million at prices near $50 per share. However, the transactions were executed under pre-arranged 10b5-1 plans, and the executives continue to hold substantial positions. The sales therefore appear more consistent with scheduled diversification or liquidity needs than a clear indication of weakening confidence. Mark Hancock insider-trading filing Jason Murray insider-trading filing Michelle Lewis insider-trading filing
• Negative Sentiment: A shareholder-focused law firm issued an alert encouraging PACS investors to contact the Shareholders Foundation regarding a potential lawsuit. The notice provides no confirmed allegations or details about the case in the supplied report, so the immediate financial impact is uncertain, but litigation-related headlines can create additional volatility and concern around the stock. PACS shareholder lawsuit alert

About PACS Group

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.