PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 20,173 Shares of Stock

Key Points

• CEO Jason Hulse Murray sold 20,173 PACS Group shares at an average price of $42.56, generating approximately $858,563. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 0.04%.
• Murray has made several additional sales since mid-August, while still retaining 54.6 million shares valued at roughly $2.32 billion.
• PACS shares were down 0.1% at $43.04, despite the company exceeding quarterly earnings and revenue expectations. Analysts maintain a consensus “Buy” rating with an average price target of $56.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 20,173 shares of PACS Group stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $42.56, for a total value of $858,562.88. Following the transaction, the chief executive officer owned 54,626,753 shares in the company, valued at approximately $2,324,914,607.68. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The shares were 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 stock was 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 stock was 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 shares were 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 shares were 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 shares were 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 stock was sold at an average price of $44.16, for a total value of $3,736,024.32.

PACS Group Stock Down 0.1%

PACS stock traded down $0.05 during mid-day trading on Thursday, hitting $43.04. 570,338 shares of the company were exchanged, compared to its average volume of 664,940. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $6.81 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.22 and a beta of -0.13. The firm's 50 day simple moving average is $44.65 and its 200 day simple moving average is $38.89. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $49.49.

PACS Group (NYSE:PACS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, sell-side analysts predict that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Institutional Trading of PACS Group

Institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. boosted its holdings in PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares during the last quarter. Hollencrest Capital Management bought a new position in PACS Group in the fourth quarter valued at $27,000. Larson Financial Group LLC increased its stake in PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $42,000 after buying an additional 612 shares during the last quarter. KBC Group NV acquired a new stake in PACS Group in the 1st quarter valued at $42,000. Finally, Western Wealth Management LLC bought a new stake in PACS Group during the 1st quarter worth about $48,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PACS shares. Weiss Ratings lowered shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research upgraded PACS Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Royal Bank Of Canada upped their price objective on 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 upped their price objective on PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACS Group presently has a consensus rating of "Buy" and an average price target of $56.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.