PACS Group (NYSE:PACS) Director Mark Hancock Sells 9,024 Shares of Company Stock

PACS Group, Inc. (NYSE:PACS) Director Mark Hancock sold 9,024 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $50.10, for a total transaction of $452,102.40. Following the sale, the director owned 53,509,860 shares of the company’s stock, valued at approximately $2,680,843,986. This represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Thursday, October 29th, Mark Hancock sold 4,280 shares of PACS Group stock. The shares were sold at an average price of $50.02, for a total transaction of $214,085.60.
• On Tuesday, September 15th, Mark Hancock sold 155,682 shares of PACS Group stock. The stock was sold at an average price of $42.47, for a total transaction of $6,611,814.54.
• On Monday, September 14th, Mark Hancock sold 144,318 shares of PACS Group stock. The stock was sold at an average price of $44.57, for a total transaction of $6,432,253.26.

PACS Group Stock Performance

Shares of NYSE:PACS traded down $1.92 during trading on Friday, reaching $47.76. 591,191 shares of the stock were exchanged, compared to its average volume of 824,846. PACS Group, Inc. has a 12 month low of $10.31 and a 12 month high of $50.38. The stock has a 50-day moving average price of $44.21 and a 200-day moving average price of $39.79. 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 firm has a market cap of $7.56 billion, a PE ratio of 27.77, a PEG ratio of 1.55 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 for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. Research analysts expect that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PACS shares. Wall Street Zen cut PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial set a $62.00 target price on shares of PACS Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their price target on shares of PACS Group from $47.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Royal Bank Of Canada raised their price target on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, UBS Group lifted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Five research 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 an average price target of $58.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PACS. Dimensional Fund Advisors LP increased its position in PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares in the last quarter. Sei Investments Co. boosted its position in PACS Group by 7.4% in the first quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock valued at $11,900,000 after buying an additional 25,462 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in PACS Group by 44.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after buying an additional 89,067 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of PACS Group during the second quarter worth $8,196,000. Finally, Corient Private Wealth LP grew its stake in shares of PACS Group by 1.8% during the second quarter. Corient Private Wealth LP now owns 152,846 shares of the company’s stock worth $6,517,000 after buying an additional 2,680 shares during the last quarter.

About PACS Group

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company’s operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.