PACS Group (NYSE:PACS) CEO Sells $3,749,574.42 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,717 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $44.26, for a total transaction of $3,749,574.42. Following the transaction, the chief executive officer directly owned 54,845,416 shares of the company’s stock, valued at approximately $2,427,458,112.16. This trade represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total transaction of $2,951,091.46.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Trading Up 1.3%

Shares of NYSE:PACS opened at $44.13 on Friday. 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 company’s 50-day moving average price is $43.54 and its 200 day moving average price is $38.52. The company has a market cap of $6.98 billion, a PE ratio of 25.66, a P/E/G ratio of 1.23 and a beta of -0.08. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two 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, topping the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Sell-side analysts anticipate that PACS Group, Inc. will post 2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PACS. Cubist Systematic Strategies LLC purchased a new position in shares of PACS Group in the first quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after acquiring an additional 1,443 shares in the last quarter. Millennium Management LLC lifted its position in shares of PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after acquiring an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of PACS Group in the 1st quarter valued at approximately $64,000. Finally, Caxton Associates LLP acquired a new position in PACS Group in the 1st quarter worth approximately $163,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on PACS shares. UBS Group raised their target price on PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Oppenheimer raised their price objective on PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Zacks Research upgraded PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $56.00.

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.