PACS Group (NYSE:PACS) CEO Jason Hulse Murray Sells 91,306 Shares of Stock

Key Points

• CEO Jason Hulse Murray sold 91,306 PACS Group shares at an average price of $43.92, generating approximately $4.01 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 0.17%.
• Murray also sold shares on four other trading days, bringing the disclosed recent sales to roughly $17.05 million; he still owned 54.75 million shares after the transactions.
• PACS stock was trading near $44.28, while analysts maintained an overall “Buy” rating with an average price target of $56. The company recently beat quarterly earnings and revenue expectations, reporting $0.63 EPS and $1.43 billion in revenue.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Hulse Murray sold 91,306 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.92, for a total transaction of $4,010,159.52. Following the completion of the sale, the chief executive officer owned 54,754,110 shares of the company's stock, valued at $2,404,800,511.20. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Friday, August 21st, Jason Hulse Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total transaction of $2,600,811.60.
• On Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Hulse 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 Hulse Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total value of $3,736,024.32.

PACS Group Stock Up 0.1%

PACS stock traded up $0.03 during trading on Monday, reaching $44.28. 544,951 shares of the stock were exchanged, compared to its average volume of 928,421. The firm's 50 day moving average is $43.54 and its 200 day moving average is $38.54. The firm has a market cap of $7.01 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.25 and a beta of -0.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. PACS Group, Inc. has a twelve month low of $7.50 and a twelve month high of $49.49.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PACS. UBS Group raised their price objective on shares of PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded PACS Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, PACS Group presently has an average rating of "Buy" and an average target price of $56.00.

Hedge Funds Weigh In On PACS Group

A number of hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. raised its position in PACS Group by 54.9% in the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after acquiring an additional 235 shares during the period. Jacobsen Capital Management grew its position in shares of PACS Group by 1.6% during the 1st quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after acquiring an additional 294 shares during the period. Larson Financial Group LLC increased its stake in shares of PACS Group by 127.0% during the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $42,000 after purchasing an additional 612 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of PACS Group during the 4th quarter worth approximately $27,000. Finally, Strategic Advocates LLC raised its holdings in shares of PACS Group by 18.5% in the 4th quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after purchasing an additional 808 shares during the period.

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.

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