Insider Selling: PACS Group (NYSE:PACS) CEO Sells $2,951,091.46 in Stock

Key Points

• PACS Group CEO Jason Hulse Murray sold 66,797 shares at an average price of $44.18, generating $2.95 million under a pre-arranged Rule 10b5-1 plan. He still directly owns approximately 54.93 million shares valued at $2.43 billion.
• The CEO also sold roughly $7.49 million of stock in two other transactions on August 17 and 19, bringing his recent sales to nearly $10.44 million.
• PACS shares rose 1.0% to $44.24, while the company reported quarterly EPS of $0.63—beating estimates—and revenue of $1.43 billion. Analysts maintain a consensus “Buy” rating with an average price target of $56.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Hulse Murray sold 66,797 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $44.18, for a total transaction of $2,951,091.46. Following the completion of the sale, the chief executive officer directly owned 54,930,133 shares in the company, valued at $2,426,813,275.94. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Wednesday, August 19th, Jason Hulse Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
• On Monday, August 17th, Jason Hulse Murray sold 84,602 shares of PACS Group stock. The stock was sold at an average price of $44.16, for a total value of $3,736,024.32.

PACS Group Trading Up 1.0%

Shares of NYSE PACS traded up $0.45 during mid-day trading on Wednesday, hitting $44.24. The stock had a trading volume of 680,757 shares, compared to its average volume of 897,858. The business has a 50 day moving average price of $43.20 and a two-hundred day moving average price of $38.41. PACS Group, Inc. has a 1 year low of $7.50 and a 1 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 $7.00 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 1.24 and a beta of -0.08.

PACS Group (NYSE:PACS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, equities analysts anticipate that PACS Group, Inc. will post 2.36 EPS for the current fiscal year.

Analyst Ratings Changes

PACS has been the subject of a number of recent research reports. UBS Group raised their target price on shares of PACS Group from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Zacks Research upgraded PACS Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Wall Street Zen downgraded shares of PACS Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Royal Bank Of Canada lifted 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, PACS Group currently has an average rating of "Buy" and a consensus target price of $56.00.

Hedge Funds Weigh In On PACS Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in PACS Group in the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. increased its stake in shares of PACS Group by 54.9% during the second quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares in the last quarter. Quarry LP increased its stake in PACS Group by 79.5% during the 3rd quarter. Quarry LP now owns 2,388 shares of the company's stock worth $33,000 after buying an additional 1,058 shares in the last quarter. Larson Financial Group LLC raised its stake in PACS Group by 127.0% in the 4th 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 during the last quarter. Finally, KBC Group NV acquired a new stake in shares of PACS Group in the first quarter valued at about $42,000.

PACS Group Company Profile

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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