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

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 138,069 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 54,164,528 shares of the company’s stock, valued at $2,184,455,414.24. This represents a 0.25% decrease in their position. The sale was disclosed in a legal 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 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 stock was 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 Stock Performance

PACS Group stock traded up $1.11 during trading hours on Friday, hitting $41.79. The stock had a trading volume of 1,918,410 shares, compared to its average volume of 938,016. The company has a 50-day moving average of $36.26 and a two-hundred day moving average of $36.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.61 billion and a PE ratio of 26.79. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $43.08.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PACS. UBS Group lifted their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research note on Wednesday. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Truist Financial raised their price objective on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada lifted their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently modified their holdings of the stock. Jacobsen Capital Management boosted its stake in PACS Group by 1.6% in the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock valued at $582,000 after buying an additional 294 shares in the last quarter. Larson Financial Group LLC grew its position in PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after acquiring an additional 612 shares during the period. Hollencrest Capital Management acquired a new position in PACS Group during the fourth quarter worth $27,000. Strategic Advocates LLC raised its stake in PACS Group by 18.5% during the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock worth $203,000 after acquiring an additional 808 shares in the last quarter. Finally, Peterson Wealth Services lifted its holdings in shares of PACS Group by 1.6% during the first quarter. Peterson Wealth Services now owns 53,672 shares of the company’s stock valued at $1,724,000 after acquiring an additional 854 shares during the period.

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.