Mark Hancock Sells 153,254 Shares of PACS Group (NYSE:PACS) Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 153,254 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36. Following the completion of the sale, the insider owned 54,449,343 shares in the company, valued at approximately $1,978,689,124.62. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 transaction of $2,982,069.40.

PACS Group Price Performance

Shares of PACS Group stock traded down $0.54 during trading hours on Wednesday, reaching $35.35. The company’s stock had a trading volume of 610,743 shares, compared to its average volume of 925,067. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day moving average price of $35.74 and a 200-day moving average price of $35.93. The stock has a market cap of $5.60 billion and a P/E ratio of 22.66.

PACS Group (NYSE:PACS) last released its quarterly earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, analysts predict that PACS Group, Inc. will post 2.19 EPS for the current year.

Institutional Investors Weigh In On PACS Group

Hedge funds have recently modified their holdings of the business. Royce & Associates LP lifted its position in shares of PACS Group by 76.6% in the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after purchasing an additional 806,446 shares during the period. Vanguard Group Inc. lifted its position in shares of PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after purchasing an additional 566,502 shares during the period. Crewe Advisors LLC lifted its position in shares of PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after purchasing an additional 1,035,747 shares during the period. Fox Run Management L.L.C. lifted its position in shares of PACS Group by 216.6% in the 3rd quarter. Fox Run Management L.L.C. now owns 36,502 shares of the company’s stock worth $501,000 after purchasing an additional 24,971 shares during the period. Finally, Maven Securities LTD purchased a new stake in shares of PACS Group in the 4th quarter worth approximately $960,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on PACS shares. Truist Financial lifted their price target on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Oppenheimer increased their price objective on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen raised PACS Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. UBS Group increased their price objective on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PACS Group in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

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.