Insider Selling: PACS Group (NYSE:PACS) CEO Sells $3,736,024.32 in Stock

Key Points

• PACS Group CEO Jason Hulse Murray sold 84,602 shares at an average price of $44.16, generating $3.74 million; the transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his position by 0.15%.
• Murray also sold approximately $6.70 million of additional PACS shares in transactions on August 18 and 19, while retaining nearly 55 million shares worth about $2.43 billion.
• PACS shares recently traded around $44.24, while the company reported quarterly EPS of $0.63 and revenue of $1.43 billion, beating estimates. Analysts maintain a consensus “Buy” rating with a $56 price target.

PACS Group, Inc. (NYSE:PACS - Get Free Report) CEO Jason Hulse Murray sold 84,602 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $44.16, for a total transaction of $3,736,024.32. Following the completion of the transaction, the chief executive officer directly owned 54,996,930 shares of the company's stock, valued at approximately $2,428,664,428.80. The trade was a 0.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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 transaction of $3,749,574.42.
• On Tuesday, August 18th, Jason Hulse Murray sold 66,797 shares of PACS Group stock. The stock was sold at an average price of $44.18, for a total value of $2,951,091.46.

PACS Group Stock Up 1.0%

PACS Group stock traded up $0.45 during trading on Wednesday, reaching $44.24. The stock had a trading volume of 680,757 shares, compared to its average volume of 897,858. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $49.49. The stock has a market cap of $7.00 billion, a PE ratio of 25.72, a P/E/G ratio of 1.24 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. The business has a 50 day moving average price of $43.20 and a 200 day moving average price of $38.41.

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 the consensus estimate of $0.54 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.41 billion. PACS Group had a return on equity of 29.55% and a net margin of 4.85%. On average, analysts predict that PACS Group, Inc. will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

PACS has been the subject of several research analyst reports. UBS Group upped 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 raised shares of PACS Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Oppenheimer upped their price objective on shares of PACS Group from $48.00 to $57.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Royal Bank Of Canada lifted their target price on PACS Group from $52.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded PACS Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, PACS Group currently has a consensus rating of "Buy" and a consensus target price of $56.00.

Institutional Investors Weigh In On PACS Group

Several hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. grew its holdings 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 buying an additional 235 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of PACS Group in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC increased 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 buying an additional 612 shares during the period. KBC Group NV acquired a new stake in PACS Group in the first quarter valued at about $42,000. Finally, Western Wealth Management LLC purchased a new stake in shares of PACS Group in the first quarter valued at approximately $48,000.

About PACS Group

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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