PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 26,052 Shares

Key Points

• CEO Jason Hulse Murray sold 26,052 PACS Group shares at an average price of $42.51, generating approximately $1.11 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 0.05%.
• Murray has made several additional sales in recent weeks, including 24,224 shares on October 5 and 33,032 shares on October 1, while still retaining more than 54.4 million shares.
• PACS shares recently traded near $42.74, while analysts maintain a “Moderate Buy” consensus with an average price target of $58.80. The company also exceeded quarterly earnings and revenue expectations.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 26,052 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $42.51, for a total value of $1,107,470.52. Following the transaction, the chief executive officer owned 54,496,165 shares in the company, valued at approximately $2,316,631,974.15. This trade represents a 0.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The shares were sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• 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 stock was 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 shares were 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 stock was 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 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.

PACS Group Stock Performance

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

PACS Group (NYSE:PACS - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate 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 predict that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PACS. Truist Financial set a $62.00 price objective on PACS Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their target price on shares of PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, September 4th. Wall Street Zen downgraded shares of PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, UBS Group boosted their price objective on shares of PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, PACS Group has an average rating of "Moderate Buy" and an average price target of $58.80.

Institutional Trading of PACS Group

A number of hedge funds have recently modified their holdings of PACS. Dimensional Fund Advisors LP grew its holdings in shares of PACS Group by 370.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock worth $25,051,000 after purchasing an additional 614,250 shares in the last quarter. 8 Knots Management LLC bought a new position in PACS Group in the fourth quarter worth $23,421,000. Sei Investments Co. lifted its position in PACS Group by 7.4% in the first quarter. Sei Investments Co. now owns 370,501 shares of the company's stock worth $11,900,000 after purchasing an additional 25,462 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in PACS Group by 44.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company's stock worth $9,274,000 after buying an additional 89,067 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in PACS Group during the second quarter worth $8,196,000.

PACS Group Company Profile

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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