Insider Selling: PACS Group (NYSE:PACS) CAO Sells 4,137 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 4,137 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the sale, the chief accounting officer owned 355,338 shares of the company’s stock, valued at $16,004,423.52. The trade was a 1.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Renee Lewis also recently made the following trade(s):

• On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total value of $300,034.89.
• On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total value of $189,042.00.
• On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The stock was sold at an average price of $40.01, for a total value of $600,150.00.

PACS Group Price Performance

Shares of NYSE:PACS traded up $0.20 during midday trading on Monday, reaching $44.68. 1,312,827 shares of the company were exchanged, compared to its average volume of 948,595. The stock has a market cap 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’s fifty day moving average is $37.20 and its two-hundred day moving average is $36.64. PACS Group, Inc. has a one year low of $7.50 and a one year high of $45.89. 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 (NYSE:PACS) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping 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 net margin of 4.49% and a return on equity of 26.47%. As a group, analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently added to or reduced their stakes in the company. Jacobsen Capital Management lifted its stake in PACS Group by 1.6% in the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company’s stock worth $582,000 after purchasing an additional 294 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $42,000 after buying an additional 612 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of PACS Group in the fourth quarter worth approximately $27,000. Strategic Advocates LLC boosted its holdings in PACS Group by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company’s stock valued at $203,000 after acquiring an additional 808 shares during the period. Finally, Peterson Wealth Services grew its position in PACS Group by 1.6% in the 1st 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 last quarter.

Wall Street Analysts Forecast Growth

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

PACS Group Company Profile

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.