Insider Selling: PACS Group (NYSE:PACS) Director Sells $214,085.60 in Stock

by · The Markets Daily

PACS Group, Inc. (NYSE:PACS – Get Free Report) Director Mark Hancock sold 4,280 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $50.02, for a total transaction of $214,085.60. Following the sale, the director owned 53,505,580 shares of the company’s stock, valued at approximately $2,676,349,111.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

  • On Wednesday, October 28th, Mark Hancock sold 9,024 shares of PACS Group stock. The stock was sold at an average price of $50.10, for a total transaction of $452,102.40.
  • On Tuesday, September 15th, Mark Hancock sold 155,682 shares of PACS Group stock. The shares were sold at an average price of $42.47, for a total transaction of $6,611,814.54.
  • On Monday, September 14th, Mark Hancock sold 144,318 shares of PACS Group stock. The shares were sold at an average price of $44.57, for a total transaction of $6,432,253.26.

PACS Group Stock Performance

PACS Group stock traded down $1.92 during trading hours on Friday, hitting $47.76. The company had a trading volume of 591,191 shares, compared to its average volume of 824,846. The firm has a 50-day moving average of $44.21 and a 200 day moving average of $39.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $7.56 billion, a PE ratio of 27.77, a PEG ratio of 1.55 and a beta of -0.08. PACS Group, Inc. has a one year low of $10.31 and a one year high of $50.38.

PACS Group (NYSE:PACS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. On average, sell-side analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On PACS Group

Several institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its stake in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company’s stock worth $28,000 after acquiring an additional 235 shares during the period. GK Wealth Management LLC acquired a new position in PACS Group in the third quarter valued at about $41,000. USA Financial Formulas bought a new stake in PACS Group during the third quarter worth about $46,000. KBC Group NV bought a new stake in PACS Group during the first quarter worth about $42,000. Finally, Western Wealth Management LLC acquired a new stake in PACS Group during the first quarter worth about $48,000.

Analyst Ratings Changes

A number of research analysts have commented on PACS shares. Weiss Ratings raised PACS Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. UBS Group lifted their target price on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Truist Financial set a $62.00 price target on shares of PACS Group in a research note on Wednesday, September 2nd. Finally, Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.80.

View Our Latest Stock Report on PACS

About PACS Group

(Get Free Report)

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.

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