Mark Hancock Sells 12,825 Shares of PACS Group (NYSE:PACS) Stock

Key Points

• Director Mark Hancock sold 12,825 PACS Group shares on July 2 at an average price of $45.01, totaling about $577,253. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• PACS Group shares rose 0.5% to $44.68, near their 52-week high of $45.89, with trading volume above average. The company has a market cap of $7.07 billion and a relatively low debt-to-equity ratio of 0.27.
• Analysts remain moderately bullish on PACS, with a consensus rating of “Moderate Buy” and an average price target of $48.00. The company also recently beat earnings expectations, reporting $0.50 EPS versus the $0.42 estimate.

PACS Group, Inc. (NYSE:PACS - Get Free Report) Director Mark Hancock sold 12,825 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $45.01, for a total transaction of $577,253.25. Following the transaction, the director owned 54,087,979 shares of the company's stock, valued at $2,434,499,934.79. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal 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.

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

• 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 transaction of $6,444,248.79.
• 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 value 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 value 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 value 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 Trading Up 0.5%

NYSE PACS traded up $0.20 during trading on Monday, hitting $44.68. The stock had a trading volume of 1,312,827 shares, compared to its average volume of 948,595. PACS Group, Inc. has a one year low of $7.50 and a one year high of $45.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 1.33 and a beta of -0.08. The stock has a 50 day simple moving average of $37.20 and a 200 day simple moving average of $36.64.

PACS Group (NYSE:PACS - Get Free Report) last announced 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Sell-side analysts predict that PACS Group, Inc. will post 2.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

PACS has been the topic of a number of research reports. Wall Street Zen raised shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PACS Group in a report on Wednesday, June 24th. Truist Financial raised their target price on 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 cut PACS Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Finally, Oppenheimer raised 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. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Alyeska Investment Group L.P. grew its position in shares of PACS Group by 159.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock valued at $86,378,000 after acquiring an additional 1,382,984 shares during the period. Crewe Advisors LLC raised its holdings in PACS Group by 93.1% in the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock worth $82,455,000 after purchasing an additional 1,035,747 shares during the period. Marshall Wace LLP raised its holdings in PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company's stock worth $13,880,000 after purchasing an additional 785,537 shares during the period. Ameriprise Financial Inc. boosted its position in PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock worth $14,595,000 after purchasing an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in PACS Group by 370.2% in the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company's stock valued at $25,051,000 after purchasing an additional 614,250 shares during the period.

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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