Insider Selling: PACS Group (NYSE:PACS) CEO Sells 19,235 Shares of Stock

Key Points

• PACS Group CEO Jason Murray sold 19,235 shares for about $974,000 at an average price of $50.64 under a pre-arranged Rule 10b5-1 trading plan.
• After the sale, Murray still directly owned approximately 53.9 million shares, worth about $2.73 billion; the transaction reduced his stake by 0.04%.
• PACS Group beat quarterly expectations, reporting EPS of $0.63 versus a $0.58 consensus and revenue of $1.50 billion versus $1.46 billion. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $61.33.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 19,235 shares of the business's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $50.64, for a total value of $974,060.40. Following the completion of the sale, the chief executive officer directly owned 53,934,866 shares of the company's stock, valued at $2,731,261,614.24. This represents a 0.04% decrease in their position. The sale 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.

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

• On Wednesday, November 4th, Jason Murray sold 167,434 shares of PACS Group stock. The stock was sold at an average price of $50.24, for a total transaction of $8,411,884.16.
• On Tuesday, November 3rd, Jason Murray sold 26,504 shares of PACS Group stock. The shares were sold at an average price of $46.50, for a total transaction of $1,232,436.00.
• On Monday, November 2nd, Jason Murray sold 31,358 shares of PACS Group stock. The stock was sold at an average price of $46.02, for a total transaction of $1,443,095.16.
• On Thursday, October 29th, Jason Murray sold 1,904 shares of PACS Group stock. The stock was sold at an average price of $50.05, for a total transaction of $95,295.20.
• On Wednesday, October 28th, Jason Murray sold 6,899 shares of PACS Group stock. The shares were sold at an average price of $50.10, for a total transaction of $345,639.90.
• On Friday, October 23rd, Jason Murray sold 68,917 shares of PACS Group stock. The shares were sold at an average price of $48.60, for a total transaction of $3,349,366.20.
• On Thursday, October 22nd, Jason Murray sold 13,696 shares of PACS Group stock. The shares were sold at an average price of $47.55, for a total value of $651,244.80.
• On Wednesday, October 21st, Jason Murray sold 6,610 shares of PACS Group stock. The shares were sold at an average price of $47.62, for a total value of $314,768.20.
• On Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The stock was sold at an average price of $47.57, for a total value of $77,063.40.

PACS Group Stock Performance

Shares of NYSE PACS traded down $1.03 during trading hours on Monday, hitting $48.57. 987,877 shares of the company's stock were exchanged, compared to its average volume of 899,428. The company's 50-day moving average price is $44.64 and its 200-day moving average price is $40.03. PACS Group, Inc. has a 1-year low of $10.31 and a 1-year high of $51.68. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.55 and a beta of -0.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80.

PACS Group (NYSE:PACS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. PACS Group had a return on equity of 31.98% and a net margin of 4.87%. On average, sell-side analysts expect that PACS Group, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

Hedge funds have recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of PACS Group in the third quarter valued at $34,000. Fulcrum Asset Management LLP lifted its position in PACS Group by 244.8% in the third quarter. Fulcrum Asset Management LLP now owns 11,014 shares of the company's stock worth $465,000 after purchasing an additional 7,820 shares during the period. Vise Technologies Inc. lifted its position in PACS Group by 40.6% in the third quarter. Vise Technologies Inc. now owns 7,209 shares of the company's stock worth $300,000 after purchasing an additional 2,081 shares during the period. State of Wyoming boosted its stake in PACS Group by 11.9% during the third quarter. State of Wyoming now owns 10,551 shares of the company's stock worth $438,000 after buying an additional 1,119 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its stake in PACS Group by 1.3% during the third quarter. Smith Group Asset Management LLC now owns 24,680 shares of the company's stock worth $1,025,000 after buying an additional 320 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. increased their price target on shares of PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Royal Bank Of Canada increased their price target 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. Wall Street Zen lowered shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of PACS Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, November 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.33.

About PACS Group

PACS Group, Inc is a post-acute healthcare provider that operates skilled nursing and rehabilitation facilities. Its services include nursing care, physical and occupational therapy, and support for patients recovering from illness or injury, as well as care for people with ongoing or long-term needs.

Founded in 2013, the company has expanded its network of facilities across the United States. Its operations are organized through affiliated entities, with care and services tailored to the needs of residents and patients in the communities it serves.

PACS Group is led by co-founder and Chief Executive Officer Jason Murray.

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