Jason Hulse Murray Sells 4,758 Shares of PACS Group (NYSE:PACS) Stock

Key Points

• PACS Group CEO Jason Hulse Murray sold 4,758 shares at an average price of $43.33, generating $206,164.14. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, and he retained approximately 54.6 million shares.
• The sale follows a series of insider transactions in August and September, totaling several hundred thousand shares sold by Murray.
• PACS shares traded at $44.59, while the company’s latest quarterly results exceeded expectations. Analysts maintain a consensus “Buy” rating with an average price target of $58.80.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 4,758 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $43.33, for a total transaction of $206,164.14. Following the completion of the sale, the chief executive officer owned 54,574,866 shares of the company's stock, valued at approximately $2,364,728,943.78. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The stock was sold at an average price of $43.49, for a total value of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The shares were sold at an average price of $42.69, for a total value of $984,943.68.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total value of $858,562.88.
• On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total value of $1,021,242.02.
• On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The shares were sold at an average price of $42.39, for a total value of $1,024,015.23.
• On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total value of $2,600,811.60.
• On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52.
• On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46.
• On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32.

PACS Group Stock Performance

Shares of PACS Group stock traded up $0.92 during midday trading on Wednesday, hitting $44.59. The company had a trading volume of 552,458 shares, compared to its average volume of 907,048. The company has a fifty day simple moving average of $44.73 and a 200 day simple moving average of $38.97. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.20 and a beta of -0.13. 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, Inc. has a 12-month low of $7.62 and a 12-month high of $49.49.

PACS Group (NYSE:PACS - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, analysts predict that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PACS has been the topic of several research reports. Oppenheimer upped their target price on PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Zacks Research raised PACS Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada boosted their price target on PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Truist Financial set a $62.00 price target on PACS Group in a research note on Wednesday, September 2nd. Finally, UBS Group increased their price objective on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, PACS Group has a consensus rating of "Buy" and an average target price of $58.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in PACS Group during the 2nd quarter worth about $252,000. Engineers Gate Manager LP purchased a new position in shares of PACS Group during the 2nd quarter valued at about $1,132,000. Integrated Wealth Concepts LLC acquired a new position in shares of PACS Group in the 2nd quarter valued at about $75,000. Squarepoint Ops LLC boosted its stake in shares of PACS Group by 94.7% in the second quarter. Squarepoint Ops LLC now owns 59,523 shares of the company's stock worth $2,538,000 after buying an additional 28,945 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of PACS Group in the second quarter worth about $95,000.

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.

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