PACS Group (NYSE:PACS) Insider Sells $2,248,540.80 in Stock

by · The Markets Daily

PACS Group, Inc. (NYSE:PACS – Get Free Report) insider Mark Hancock sold 63,680 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $35.31, for a total value of $2,248,540.80. Following the completion of the transaction, the insider directly owned 54,302,597 shares of the company’s stock, valued at approximately $1,917,424,700.07. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was 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 stock was sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Stock Up 3.5%

Shares of PACS stock opened at $38.68 on Thursday. The stock has a 50 day moving average of $36.11 and a 200 day moving average of $36.14. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.12 billion and a P/E ratio of 24.80. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $43.08.

PACS Group (NYSE:PACS – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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. As a group, sell-side analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Hedge Funds Weigh In On PACS Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company’s stock worth $86,378,000 after acquiring an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC raised its stake in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock valued at $82,455,000 after purchasing an additional 1,035,747 shares during the last quarter. Royce & Associates LP lifted its holdings in PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock valued at $25,525,000 after purchasing an additional 806,446 shares in the last quarter. Marshall Wace LLP lifted its holdings in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company’s stock valued at $13,880,000 after purchasing an additional 785,537 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company’s stock valued at $14,595,000 after purchasing an additional 617,124 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Royal Bank Of Canada raised their price target 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. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. UBS Group upped their price objective on shares of PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, PACS Group currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Check Out Our Latest Stock Analysis on PACS

About PACS Group

(Get Free Report)

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.

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