PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 8,462 Shares of Stock

PACS Group, Inc. (NYSE:PACS) CEO Jason Murray sold 8,462 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82. Following the completion of the sale, the chief executive officer directly owned 54,316,520 shares of the company’s stock, valued at $2,586,009,517.20. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing 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.

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

• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The stock was sold at an average price of $47.27, for a total transaction of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total transaction of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• On Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total value of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The shares were sold at an average price of $45.23, for a total value of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total value of $396,098.36.

PACS Group Stock Down 1.7%

Shares of NYSE:PACS traded down $0.82 on Friday, reaching $46.93. The company had a trading volume of 958,006 shares, compared to its average volume of 803,212. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $49.49. The stock has a 50-day moving average price of $43.58 and a 200 day moving average price of $40.42. The stock has a market capitalization of $7.43 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.49 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.09. The company 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%. On average, equities analysts expect that PACS Group, Inc. will post 2.13 EPS for the current year.

Institutional Trading of PACS Group

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

Key PACS Group News

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

• Positive Sentiment: An analysis suggests that expanding the company’s lease portfolio could reshape the investment case for PACS Group, potentially supporting future growth and increasing investor interest. The article provides a potentially constructive strategic angle, although specific financial details were not included. Lease Expansion Could Reshape The Case For PACS Group Stock
• Neutral Sentiment: PACS shares recently gained 6.2% on above-average volume, indicating strong near-term buying interest. However, Zacks cautioned that the latest earnings-estimate revision trend may not support additional gains in the immediate future, making continuation of the rally uncertain. PACS Group Surges 6.2%: Is This an Indication of Further Gains?
• Negative Sentiment: CEO Jason Murray sold a combined 118,729 shares for approximately $5.60 million, while COO Joshua Jergensen sold 40,000 shares valued at $1.78 million. Such sales can weigh on sentiment because they indicate insider selling near recent highs; however, both executives retained substantial positions, and the transactions were made under pre-arranged trading plans.

Analyst Ratings Changes

Several brokerages have commented on PACS. Truist Financial set a $62.00 price target on PACS Group in a report on Wednesday, September 2nd. 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. Royal Bank Of Canada boosted their price objective on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Oppenheimer upped their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, UBS Group raised their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.80.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company’s services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.