PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 84,717 Shares

PACS Group, Inc. (NYSE:PACS) CEO Jason Hulse Murray sold 84,717 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42. Following the sale, the chief executive officer owned 54,845,416 shares of the company’s stock, valued at approximately $2,427,458,112.16. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $2,951,091.46.
• On Monday, August 17th, Jason Hulse 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 Stock Up 1.0%

Shares of NYSE:PACS opened at $44.24 on Thursday. 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 business’s 50 day moving average is $43.20 and its 200 day moving average is $38.41. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $49.49. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.24 and a beta of -0.08.

PACS Group (NYSE:PACS) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. PACS Group had a return on equity of 29.55% and a net margin of 4.85%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, sell-side analysts forecast that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PACS Group

Several large investors have recently added to or reduced their stakes in PACS. Cubist Systematic Strategies LLC bought a new position in shares of PACS Group in the first quarter worth approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock valued at $262,000 after buying an additional 1,443 shares in the last quarter. Millennium Management LLC boosted its holdings in PACS Group by 68.3% in the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock worth $9,658,000 after buying an additional 348,743 shares during the period. Jones Financial Companies Lllp bought a new position in PACS Group in the 1st quarter worth $64,000. Finally, Caxton Associates LLP purchased a new stake in PACS Group in the 1st quarter worth $163,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings cut PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Truist Financial increased their price target on shares of PACS Group from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of PACS Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada raised their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. 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.com, the company has a consensus rating of “Buy” and an average target price of $56.00.

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.