Insider Selling: PACS Group (NYSE:PACS) CEO Sells $1,021,242.02 in Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 23,783 shares of PACS Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.94, for a total transaction of $1,021,242.02. Following the completion of the transaction, the chief executive officer owned 54,646,926 shares in the company, valued at approximately $2,346,539,002.44. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Hulse Murray also recently made the following trade(s):

• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total transaction of $858,562.88.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was 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 shares were 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 stock was 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 stock was 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 Price Performance

Shares of PACS opened at $42.54 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $44.66 and its two-hundred day moving average is $38.92. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $49.49. The firm has a market capitalization of $6.73 billion, a PE ratio of 24.73, a P/E/G ratio of 1.20 and a beta of -0.13.

PACS Group (NYSE:PACS) last issued its earnings results 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. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Research analysts anticipate that PACS Group, Inc. will post 2.36 earnings per share for the current year.

Key PACS Group News

Here are the key news stories impacting PACS Group this week:

• Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
• Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
• Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
• Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing

Institutional Trading of PACS Group

A number of institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in shares of PACS Group in the first quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $262,000 after buying an additional 1,443 shares in the last quarter. Millennium Management LLC boosted 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 worth $9,658,000 after buying an additional 348,743 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in PACS Group in the 1st quarter valued at about $64,000. Finally, Caxton Associates LLP acquired a new stake in PACS Group in the 1st quarter valued at about $163,000.

Analysts Set New Price Targets

Several equities research analysts have commented on PACS shares. Oppenheimer boosted their target price on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings cut shares of PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on shares of PACS Group from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, PACS Group currently has an average rating of “Buy” and an average target price of $58.80.

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.