Insider Selling: PACS Group (NYSE:PACS) Director Sells $916,633.66 in Stock

Key Points

• PACS Group director Mark Hancock sold shares worth $916,633.66 on July 8, disposing of 20,338 shares at an average price of $45.07. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Hancock has been actively selling PACS stock in recent days, including multiple additional transactions in early July and late June. Despite the sales, he still holds more than 53.9 million shares valued at about $2.43 billion.
• PACS shares were down 1.3% to $43.24, near their 52-week high of $45.89. The company recently beat earnings expectations, and analysts currently have a Moderate Buy consensus with an average price target of $50.60.

PACS Group, Inc. (NYSE:PACS - Get Free Report) Director Mark Hancock sold 20,338 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $45.07, for a total value of $916,633.66. Following the sale, the director owned 53,925,478 shares of the company's stock, valued at $2,430,421,293.46. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Thursday, July 9th, Mark Hancock sold 4,966 shares of PACS Group stock. The shares were sold at an average price of $45.06, for a total value of $223,767.96.
• On Monday, July 6th, Mark Hancock sold 142,163 shares of PACS Group stock. The shares were 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 transaction of $577,253.25.
• On Wednesday, July 1st, Mark Hancock sold 6,080 shares of PACS Group stock. The stock was 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 stock was 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 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 shares were 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 shares were 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 stock was sold at an average price of $36.34, for a total transaction of $5,569,250.36.

PACS Group Stock Down 1.3%

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

PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. Equities research analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial upped their price objective on PACS Group from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. UBS Group boosted their price target on shares of PACS Group from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen upgraded shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded shares of PACS Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $50.60.

Hedge Funds Weigh In On PACS Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACS. Handelsbanken Fonder AB purchased a new stake in PACS Group during the 2nd quarter worth about $567,000. Financial Management Professionals Inc. grew its holdings in PACS Group by 54.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 663 shares of the company's stock valued at $28,000 after buying an additional 235 shares in the last quarter. Empowered Funds LLC bought a new position in shares of PACS Group in the first quarter valued at approximately $278,000. Western Wealth Management LLC bought a new position in shares of PACS Group in the first quarter valued at approximately $48,000. Finally, Smith Group Asset Management LLC purchased a new position in PACS Group during the first quarter valued at approximately $771,000.

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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