Insider Selling: PACS Group (NYSE:PACS) Director Sells 4,966 Shares of Stock

Key Points

• Director Mark Hancock sold 4,966 PACS Group shares on July 9 at an average price of $45.06, bringing in about $223,768. The trade was made under a pre-arranged Rule 10b5-1 plan and only slightly reduced his massive remaining stake.
• Hancock has been actively selling shares recently, including multiple larger sales in early July and throughout June, suggesting a sustained pattern of insider selling rather than a one-off transaction.
• PACS Group remains near its 52-week high after falling 1.3% to $43.24, while analysts still see upside with a consensus price target of $50.60 and a Moderate Buy rating. The company also recently beat earnings and revenue expectations for the quarter.

PACS Group, Inc. (NYSE:PACS - Get Free Report) Director Mark Hancock sold 4,966 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $45.06, for a total value of $223,767.96. Following the transaction, the director owned 53,920,512 shares of the company's stock, valued at approximately $2,429,658,270.72. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Wednesday, July 8th, Mark Hancock sold 20,338 shares of PACS Group stock. The stock was sold at an average price of $45.07, for a total value of $916,633.66.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The stock was sold at an average price of $45.33, for a total value of $6,444,248.79.
• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total value of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The shares were sold at an average price of $45.02, for a total transaction of $273,721.60.
• On Friday, June 26th, Mark Hancock sold 61,931 shares of PACS Group stock. The shares were sold at an average price of $40.50, for a total transaction of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The stock was sold at an average price of $40.33, for a total transaction of $5,568,322.77.
• On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80.
• On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The stock was sold at an average price of $35.90, for a total transaction of $2,982,069.40.
• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Trading Down 1.3%

PACS Group stock traded down $0.58 during trading hours on Friday, hitting $43.24. The company had a trading volume of 687,897 shares, compared to its average volume of 941,230. The firm has a market cap of $6.84 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.32 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. PACS Group, Inc. has a 1 year low of $7.50 and a 1 year high of $45.89. The company has a 50-day moving average price of $37.93 and a two-hundred day moving average price of $36.89.

PACS Group (NYSE:PACS - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. On average, sell-side analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PACS. Weiss Ratings raised PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. Truist Financial lifted their target price on PACS Group from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Wall Street Zen upgraded PACS Group from a "buy" rating to a "strong-buy" rating in a report on Monday, June 15th. Zacks Research downgraded PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Finally, Oppenheimer increased their price target on PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.60.

Institutional Investors Weigh In On PACS Group

Several large investors have recently modified their holdings of the business. Financial Management Professionals Inc. lifted its position in shares of PACS Group by 54.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock worth $28,000 after purchasing an additional 235 shares during the period. Jacobsen Capital Management increased its holdings in PACS Group by 1.6% during the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after buying an additional 294 shares during the period. Larson Financial Group LLC increased its holdings in PACS Group by 127.0% during the fourth 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. Hollencrest Capital Management bought a new position in PACS Group in the fourth quarter worth approximately $27,000. Finally, Strategic Advocates LLC raised its stake in PACS Group by 18.5% in the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after buying an additional 808 shares in the last quarter.

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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