PACS Group (NYSE:PACS) CEO Sells 24,057 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 24,057 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $43.49, for a total value of $1,046,238.93. Following the completion of the sale, the chief executive officer directly owned 54,579,624 shares of the company’s stock, valued at approximately $2,373,667,847.76. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The stock was sold at an average price of $43.33, for a total value of $206,164.14.
• 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.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total transaction of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The shares were sold at an average price of $42.94, for a total transaction of $1,021,242.02.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The shares were sold at an average price of $42.39, for a total transaction of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Trading Up 2.1%

Shares of NYSE PACS traded up $0.92 during mid-day trading on Wednesday, reaching $44.59. 552,458 shares of the company’s stock were exchanged, compared to its average volume of 907,048. The company’s 50-day moving average is $44.73 and its 200-day moving average is $38.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.20 and a beta of -0.13. PACS Group, Inc. has a 52-week low of $7.62 and a 52-week high of $49.49.

PACS Group (NYSE:PACS) last posted its 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. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. Analysts expect that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PACS Group by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,939,725 shares of the company’s stock valued at $54,092,000 after acquiring an additional 85,183 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of PACS Group by 159.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of PACS Group by 3,298.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,917,094 shares of the company’s stock valued at $81,745,000 after purchasing an additional 1,860,680 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of PACS Group by 67.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after purchasing an additional 545,348 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of PACS Group by 19.6% during the third quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company’s stock worth $18,543,000 after purchasing an additional 220,939 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on PACS. Zacks Research raised PACS Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Wall Street Zen lowered PACS Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Truist Financial set a $62.00 price objective on shares of PACS Group in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $58.80.

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.