PACS Group (NYSE:PACS) Stock: Insider Jason Hulse Murray Sells 8,462 Shares

Key Points

• CEO Jason Hulse Murray sold 8,462 PACS Group shares at an average price of $47.61, generating approximately $402,876. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by just 0.02%.
• Murray has made several additional sales recently, including 110,035 shares sold for about $5.2 million on October 15. Despite the sales, he continued to own roughly 54.3 million shares valued at approximately $2.59 billion.
• PACS shares fell 1.7% to $46.93, while the company’s latest quarterly results exceeded expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $58.80.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Murray sold 8,462 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $47.61, for a total value of $402,875.82. Following the transaction, the chief executive officer owned 54,316,520 shares of the company's stock, valued at approximately $2,586,009,517.20. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 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 value 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 value 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 value of $30,458.16.
• 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 stock was 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 shares were 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.

PACS Group Stock Down 1.7%

Shares of PACS stock traded down $0.82 during trading on Friday, reaching $46.93. The company's stock had a trading volume of 958,006 shares, compared to its average volume of 895,386. PACS Group, Inc. has a one year low of $10.31 and a one year high of $49.49. The business has a fifty day moving average price of $43.61 and a 200-day moving average price of $40.37. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.40 and a beta of -0.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

PACS Group (NYSE:PACS - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.09. PACS Group had a net margin of 4.85% and a return on equity of 29.55%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. Analysts anticipate that PACS Group, Inc. will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On PACS Group

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock worth $25,051,000 after acquiring an additional 614,250 shares in the last quarter. Sei Investments Co. lifted its stake in PACS Group by 7.4% in 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 lifted its stake in PACS Group by 44.6% in 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. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PACS Group in the first quarter valued at $6,762,000. Finally, Bank of New York Mellon Corp bought a new position in shares of PACS Group in the 2nd quarter valued at about $8,196,000.

Wall Street Analysts Forecast Growth

PACS has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on PACS Group from $52.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Oppenheimer upped their target price on PACS Group from $48.00 to $57.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. JPMorgan Chase & Co. increased their price target on PACS Group from $47.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. UBS Group increased their price target on PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.80.

About PACS Group

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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