PACS Group (NYSE:PACS) CEO Sells $1,021,242.02 in Stock

Key Points

• CEO Jason Murray sold 23,783 PACS Group shares at an average price of $42.94, generating proceeds of approximately $1.02 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 sales in recent weeks, including roughly $858,563 on September 3 and $1.02 million on September 1, while retaining approximately 54.65 million shares valued at about $2.35 billion.
• PACS shares traded near $43.04, down 0.1%, after the company beat quarterly earnings and revenue estimates. 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 23,783 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $42.94, for a total value of $1,021,242.02. Following the completion of the sale, the chief executive officer owned 54,646,926 shares of the company's stock, valued at approximately $2,346,539,002.44. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $3,736,024.32.

PACS Group Trading Down 0.1%

Shares of NYSE PACS traded down $0.05 during trading hours on Thursday, hitting $43.04. The company's stock had a trading volume of 570,338 shares, compared to its average volume of 664,940. The business has a 50-day simple moving average of $44.65 and a 200-day simple moving average of $38.89. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $49.49. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.22 and a beta of -0.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91.

PACS Group (NYSE:PACS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.41 billion. On average, analysts anticipate that PACS Group, Inc. will post 2.36 earnings per share for the current fiscal year.

Institutional Trading of PACS Group

Institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its stake in PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after purchasing an additional 235 shares in the last quarter. Hollencrest Capital Management acquired a new position in PACS Group during the fourth quarter worth about $27,000. Larson Financial Group LLC lifted its holdings in shares of PACS Group by 127.0% in the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $42,000 after purchasing an additional 612 shares in the last quarter. KBC Group NV acquired a new stake in PACS Group during the 1st quarter valued at $42,000. Finally, Western Wealth Management LLC purchased a new position in PACS Group during the first quarter worth $48,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on PACS. Oppenheimer upped their price objective on shares of PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Wall Street Zen lowered shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of PACS Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Royal Bank Of Canada increased their target price on shares of PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, UBS Group upped their price target on shares of 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 assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $56.00.

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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