Insider Selling: PACS Group (NYSE:PACS) Director Sells $6,444,248.79 in Stock

Key Points

• Director Mark Hancock sold 142,163 PACS Group shares on July 6 for about $6.44 million, reducing his position by only 0.26%. The sale was made under a pre-arranged Rule 10b5-1 plan.
• PACS Group shares were up 0.5% to $44.68 in Monday trading, near the stock’s 52-week high of $45.89. The company’s market cap was about $7.07 billion, with trading volume above its average.
• The company recently beat earnings and revenue expectations, reporting $0.50 EPS versus $0.42 expected and $1.42 billion in revenue versus $1.36 billion expected. Analysts currently rate the stock a Moderate Buy with a consensus target price of $48.00.

PACS Group, Inc. (NYSE:PACS - Get Free Report) Director Mark Hancock sold 142,163 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $45.33, for a total value of $6,444,248.79. Following the completion of the transaction, the director directly owned 53,945,816 shares of the company's stock, valued at approximately $2,445,363,839.28. The trade was a 0.26% decrease in their position. The sale 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.

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

• On Thursday, July 2nd, Mark Hancock sold 12,825 shares of PACS Group stock. The shares were 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 value 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 value of $2,508,205.50.
• On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were 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 Up 0.5%

Shares of PACS stock traded up $0.20 during trading hours on Monday, hitting $44.68. 1,312,827 shares of the company's stock traded hands, compared to its average volume of 948,595. The stock has a market cap of $7.07 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.33 and a beta of -0.08. The stock's 50 day simple moving average is $37.20 and its 200 day simple moving average is $36.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. PACS Group, Inc. has a 12 month low of $7.50 and a 12 month high of $45.89.

PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations 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 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of PACS Group by 14.4% during the fourth quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company's stock valued at $172,994,000 after buying an additional 566,502 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock worth $86,378,000 after purchasing an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of PACS Group by 93.1% in the fourth quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock valued at $82,455,000 after purchasing an additional 1,035,747 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in PACS Group by 67.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,356,240 shares of the company's stock worth $18,621,000 after buying an additional 545,348 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in PACS Group by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,350,551 shares of the company's stock valued at $18,543,000 after buying an additional 220,939 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded PACS Group from a "buy" rating to a "strong-buy" rating in a report on Monday, June 15th. Truist Financial increased their target price on shares of PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Zacks Research lowered PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PACS Group in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, PACS Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

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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