PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 717 Shares

Key Points

• CEO Jason Hulse Murray sold 717 PACS Group shares at an average price of $42.48, generating $30,458.16. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he continues to own more than 54.4 million shares.
• The transaction follows several larger insider sales in recent weeks, including more than 35,000 shares sold on October 6 and additional sales on October 5, October 2, and October 1.
• PACS shares recently traded around $43, while analysts maintained a “Moderate Buy” consensus with an average price target of $58.80. The company recently exceeded quarterly earnings and revenue expectations.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 717 shares of the stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $42.48, for a total value of $30,458.16. Following the transaction, the chief executive officer owned 54,435,249 shares of the company's stock, valued at $2,312,409,377.52. This represents a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a 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 6th, Jason Murray sold 35,975 shares of PACS Group stock. The stock was sold at an average price of $43.09, for a total value of $1,550,162.75.
• 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 value 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 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 stock was sold at an average price of $45.23, for a total value of $476,226.67.
• On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The shares were sold at an average price of $45.16, for a total value of $396,098.36.
• On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total value 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 value of $1,046,238.93.
• On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The stock was sold at an average price of $42.69, for a total value of $984,943.68.

PACS Group Trading Up 0.5%

PACS Group stock traded up $0.21 during trading hours on Wednesday, reaching $43.02. 673,130 shares of the company's stock traded hands, compared to its average volume of 899,083. 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, Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $49.49. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.33 and a beta of -0.08. The firm's 50 day moving average is $43.81 and its 200-day moving average is $39.81.

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, topping the consensus estimate of $0.54 by $0.09. The company had revenue of $1.43 billion during 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, analysts predict that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer upped their price objective on PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Wall Street Zen cut PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Zacks Research lowered shares of PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Weiss Ratings lowered shares of PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Finally, Truist Financial set a $62.00 price objective on PACS Group in a research note on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $58.80.

Institutional Investors Weigh In On PACS Group

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new position in PACS Group in the 2nd quarter worth $252,000. Engineers Gate Manager LP bought a new stake in shares of PACS Group in the second quarter valued at about $1,132,000. Integrated Wealth Concepts LLC acquired a new position in shares of PACS Group during the second quarter worth about $75,000. Squarepoint Ops LLC raised its position in PACS Group by 94.7% in the 2nd quarter. Squarepoint Ops LLC now owns 59,523 shares of the company's stock valued at $2,538,000 after buying an additional 28,945 shares during the last quarter. Finally, Nykredit A S bought a new stake in PACS Group in the 2nd quarter valued at approximately $95,000.

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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