PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 24,224 Shares of Company Stock

Key Points

• CEO Jason Hulse Murray sold 24,224 PACS Group shares at an average price of $42.66, generating approximately $1.03 million. 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 stock sales recently, including more than 59,000 shares sold between October 1 and October 2, while still retaining approximately 54.47 million shares valued at about $2.32 billion.
• PACS shares traded near $42.74, while analysts maintained a generally positive outlook: five rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of $58.80. The company also recently exceeded quarterly earnings and revenue expectations.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 24,224 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $42.66, for a total value of $1,033,395.84. Following the sale, the chief executive officer directly owned 54,471,941 shares of the company's stock, valued at approximately $2,323,773,003.06. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Friday, October 2nd, Jason Murray sold 26,052 shares of PACS Group stock. The stock was sold at an average price of $42.51, for a total value of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The stock was sold at an average price of $41.13, for a total transaction of $1,358,606.16.
• On Monday, September 14th, Jason Murray sold 317 shares of PACS Group stock. The shares were sold at an average price of $45.03, for a total transaction of $14,274.51.
• On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total transaction of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The stock was sold at an average price of $45.16, for a total transaction of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The stock was sold at an average price of $43.33, for a total transaction of $206,164.14.
• On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The shares were sold at an average price of $43.49, for a total transaction 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 transaction of $984,943.68.
• On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total transaction 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 transaction of $1,021,242.02.

PACS Group Stock Performance

Shares of NYSE:PACS traded down $0.11 during mid-day trading on Monday, reaching $42.74. The company had a trading volume of 844,528 shares, compared to its average volume of 900,159. 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 company's 50-day moving average price is $43.97 and its 200-day moving average price is $39.70. PACS Group, Inc. has a one year low of $10.31 and a one year high of $49.49. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.34 and a beta of -0.08.

PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS 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 analysts' expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. As a group, equities research analysts anticipate that PACS Group, Inc. will post 2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PACS. Weiss Ratings downgraded shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Zacks Research cut shares of PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Truist Financial set a $62.00 price objective on shares of PACS Group in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada boosted their target price 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $58.80.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its position in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after buying an additional 235 shares during the period. KBC Group NV bought a new position in shares of PACS Group in the first quarter valued at approximately $42,000. Western Wealth Management LLC bought a new position in shares of PACS Group in the first quarter valued at approximately $48,000. Integrated Wealth Concepts LLC purchased a new position in PACS Group during the second quarter valued at approximately $75,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in PACS Group during the fourth quarter valued at approximately $89,000.

About PACS Group

PACS Group, Inc is a healthcare services company that operates skilled nursing and other post-acute care facilities in the United States. Its facilities provide services for patients who require medical care, rehabilitation, recovery support, or assistance with daily activities following hospitalization or other acute health events.

The company's services generally include skilled nursing, physical and occupational therapy, speech therapy, long-term care, short-term rehabilitation, and other specialized post-acute programs.

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