PACS Group (NYSE:PACS) Director Sells $273,721.60 in Stock

Key Points

• PACS Group director Mark Hancock sold 6,080 shares on July 1 at an average price of $45.02, totaling $273,721.60. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Hancock has been actively reducing his PACS holdings with several additional sales in late June and early July, including a 142,163-share sale on July 6 worth about $6.44 million.
• PACS shares recently traded near their 52-week high at $44.68, while analysts maintain a Moderate Buy consensus with an average price target of $48.00 after the company beat first-quarter earnings and revenue estimates.

PACS Group, Inc. (NYSE:PACS - Get Free Report) Director Mark Hancock sold 6,080 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.02, for a total transaction of $273,721.60. Following the transaction, the director owned 54,100,804 shares in the company, valued at approximately $2,435,618,196.08. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 transaction 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 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 value 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 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 value of $5,569,250.36.

PACS Group Stock Performance

Shares of PACS traded up $0.20 on Monday, reaching $44.68. 1,312,827 shares of the stock traded hands, compared to its average volume of 948,595. The stock's 50-day moving average price is $37.20 and its 200-day moving average price is $36.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap 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. 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 earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. Equities analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On PACS Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in PACS Group during the first quarter worth about $278,000. Western Wealth Management LLC bought a new position in shares of PACS Group in the first quarter valued at approximately $48,000. Smith Group Asset Management LLC acquired a new position in shares of PACS Group in the 1st quarter worth approximately $771,000. EverSource Wealth Advisors LLC boosted its holdings in shares of PACS Group by 745.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,064 shares of the company's stock worth $163,000 after acquiring an additional 4,465 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in PACS Group by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 56,414 shares of the company's stock worth $1,812,000 after acquiring an additional 10,314 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research cut shares of PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Oppenheimer lifted their price objective on PACS Group from $42.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. 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. Wall Street Zen raised PACS Group from a "buy" rating to a "strong-buy" rating in a report on Monday, June 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of PACS Group in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.00.

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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