Insider Selling: PACS Group (NYSE:PACS) CAO Sells $600,150.00 in Stock

PACS Group, Inc. (NYSE:PACS) CAO Michelle Renee Lewis sold 15,000 shares of PACS Group stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $40.01, for a total value of $600,150.00. Following the sale, the chief accounting officer directly owned 370,338 shares of the company’s stock, valued at approximately $14,817,223.38. The trade was a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PACS Group Stock Performance

PACS opened at $41.79 on Monday. The business has a fifty day simple moving average of $36.40 and a 200 day simple moving average of $36.28. The company has a market capitalization of $6.61 billion and a PE ratio of 26.79. PACS Group, Inc. has a 1 year low of $7.50 and a 1 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.

PACS Group (NYSE:PACS) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Research analysts expect that PACS Group, Inc. will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

PACS has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial increased their target price on shares of PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of PACS Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Zacks Research cut shares of PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, UBS Group lifted their price target on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Institutional Investors Weigh In On PACS Group

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in PACS Group by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock valued at $172,994,000 after buying an additional 566,502 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of PACS Group by 159.5% during the 4th 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 period. Crewe Advisors LLC boosted its position in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company’s stock worth $82,455,000 after acquiring an additional 1,035,747 shares in the last quarter. Royce & Associates LP boosted its position in shares of PACS Group by 76.6% during the 3rd quarter. Royce & Associates LP now owns 1,859,070 shares of the company’s stock worth $25,525,000 after acquiring an additional 806,446 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in PACS Group by 67.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company’s stock valued at $18,621,000 after acquiring an additional 545,348 shares during the last quarter.

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.