PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 6,610 Shares

Key Points

• CEO Jason Hulse Murray sold 6,610 PACS Group shares at an average price of $47.62, generating $314,768.20. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, and he retained more than 54.27 million shares.
• Murray has made a series of sales in October, including 37,477 shares on October 20 and 110,035 shares on October 15, indicating continued insider selling activity.
• PACS shares closed at $46.69, while analysts maintained a generally positive outlook: five analysts rate the stock Buy and two Hold, with a consensus price target of $58.80.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 6,610 shares of PACS Group stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $47.62, for a total value of $314,768.20. Following the completion of the transaction, the chief executive officer owned 54,270,813 shares in the company, valued at approximately $2,584,376,115.06. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, October 20th, Jason Murray sold 37,477 shares of PACS Group stock. The stock was sold at an average price of $47.65, for a total value of $1,785,779.05.
• On Monday, October 19th, Jason Murray sold 1,620 shares of PACS Group stock. The stock was sold at an average price of $47.57, for a total value of $77,063.40.
• On Friday, October 16th, Jason Murray sold 8,462 shares of PACS Group stock. The stock was sold at an average price of $47.61, for a total transaction of $402,875.82.
• On Thursday, October 15th, Jason Murray sold 110,035 shares of PACS Group stock. The shares were sold at an average price of $47.27, for a total transaction of $5,201,354.45.
• On Wednesday, October 14th, Jason Murray sold 232 shares of PACS Group stock. The shares were sold at an average price of $45.00, for a total transaction of $10,440.00.
• On Wednesday, October 7th, Jason Murray sold 717 shares of PACS Group stock. The shares were sold at an average price of $42.48, for a total transaction of $30,458.16.
• On Tuesday, October 6th, Jason Murray sold 35,975 shares of PACS Group stock. The shares were sold at an average price of $43.09, for a total transaction of $1,550,162.75.
• On Monday, October 5th, Jason Murray sold 24,224 shares of PACS Group stock. The stock was sold at an average price of $42.66, for a total transaction of $1,033,395.84.
• 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 transaction of $1,107,470.52.
• On Thursday, October 1st, Jason Murray sold 33,032 shares of PACS Group stock. The shares were sold at an average price of $41.13, for a total transaction of $1,358,606.16.

PACS Group Price Performance

NYSE:PACS traded down $1.03 on Wednesday, hitting $46.69. The company had a trading volume of 648,381 shares, compared to its average volume of 892,400. PACS Group, Inc. has a 52 week low of $10.31 and a 52 week high of $49.49. 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 stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.43 and a beta of -0.08. The firm has a 50 day moving average of $43.58 and a two-hundred day moving average of $40.70.

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. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.41 billion. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. On average, research analysts anticipate that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded PACS Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. UBS Group upped their target price on PACS Group from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their target price on PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Finally, Truist Financial set a $62.00 price target on PACS Group in a research note on Wednesday, September 2nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, PACS Group currently has a consensus rating of "Moderate Buy" and an average target price of $58.80.

Institutional Investors Weigh In On PACS Group

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in PACS Group by 370.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock valued at $25,051,000 after acquiring an additional 614,250 shares during the period. Sei Investments Co. raised its stake in shares of PACS Group by 7.4% during the first quarter. Sei Investments Co. now owns 370,501 shares of the company's stock valued at $11,900,000 after acquiring an additional 25,462 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PACS Group by 44.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company's stock valued at $9,274,000 after acquiring an additional 89,067 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of PACS Group during the second quarter valued at $8,196,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of PACS Group by 29.7% during the fourth quarter. Corient Private Wealth LLC now owns 170,052 shares of the company's stock worth $6,528,000 after purchasing an additional 38,956 shares during the period.

PACS Group Company Profile

PACS Group, Inc is a U.S.-based healthcare services company that owns and operates post-acute care facilities. Its platform focuses primarily on skilled nursing and transitional care, serving patients who require rehabilitation, recovery support, long-term care, and other services following hospitalization or acute medical treatment.

The company's operations also include assisted living, independent living, and behavioral health services in select locations. Through its facilities and related healthcare capabilities, PACS Group provides services such as nursing care, physical and occupational therapy, speech therapy, medical treatment, and support for patients with complex or extended care needs.

Founded in 2013 and headquartered in Farmington, Utah, PACS Group serves communities across multiple U.S.

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.