PACS Group, Inc. (NYSE:PACS – Get Free Report) CEO Jason Murray sold 24,157 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $42.39, for a total transaction of $1,024,015.23. Following the completion of the transaction, the chief executive officer directly owned 54,670,709 shares in the company, valued at $2,317,491,354.51. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jason Hulse Murray also recently made the following trade(s):
- On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The stock was sold at an average price of $42.56, for a total value of $858,562.88.
- On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The shares were sold at an average price of $42.94, for a total value of $1,021,242.02.
- On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The stock was sold at an average price of $43.90, for a total value of $2,600,811.60.
- On Thursday, August 20th, Jason Murray sold 91,306 shares of PACS Group stock. The stock was sold at an average price of $43.92, for a total value of $4,010,159.52.
- On Wednesday, August 19th, Jason Murray sold 84,717 shares of PACS Group stock. The stock was sold at an average price of $44.26, for a total value of $3,749,574.42.
- On Tuesday, August 18th, Jason Murray sold 66,797 shares of PACS Group stock. The shares were sold at an average price of $44.18, for a total value of $2,951,091.46.
- On Monday, August 17th, Jason Murray sold 84,602 shares of PACS Group stock. The shares were sold at an average price of $44.16, for a total value of $3,736,024.32.
PACS Group Trading Down 1.2%
Shares of PACS stock opened at $42.54 on Friday. PACS Group, Inc. has a fifty-two week low of $7.50 and a fifty-two week high of $49.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day moving average is $44.66 and its two-hundred day moving average is $38.92. The firm has a market capitalization of $6.73 billion, a P/E ratio of 24.73, a PEG ratio of 1.20 and a beta of -0.13.
Institutional Investors Weigh In On PACS Group
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of PACS Group by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 4,506,227 shares of the company’s stock worth $172,994,000 after purchasing an additional 566,502 shares during the period. Principal Financial Group Inc. purchased a new stake in PACS Group in the first quarter valued at approximately $3,171,000. Smith Group Asset Management LLC purchased a new stake in PACS Group in the first quarter valued at approximately $771,000. Maven Securities LTD acquired a new position in PACS Group during the fourth quarter worth $960,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in PACS Group during the first quarter worth $6,762,000.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of PACS Group from $47.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday. Wall Street Zen downgraded PACS Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Royal Bank Of Canada boosted their price objective on PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. UBS Group raised their target price on PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered PACS Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $58.80.
Get Our Latest Stock Analysis on PACS Group
Trending Headlines about PACS Group
Here are the key news stories impacting PACS Group this week:
- Positive Sentiment: JPMorgan raised its price target to $58. JPMorgan Chase upgraded PACS to “overweight” from its prior stance and increased its target from $47, implying substantial upside from recent trading levels. The revision adds to a generally favorable analyst outlook for the skilled-nursing operator.
- Positive Sentiment: Florida expansion broadens PACS’s operating footprint. The company plans to enter Florida through the acquisition of 32 nursing facilities, giving it a presence in a new state and potentially creating additional revenue and operating-scale opportunities. PACS Group Florida expansion and Eduro closings
- Positive Sentiment: Eduro acquisition progress supports growth. PACS has closed on 31 of 34 Eduro buildings, advancing its acquisition-led expansion strategy. UBS characterized the Florida transaction as supportive of the company’s broader market expansion plans. PACS Group Eduro acquisition update
- Neutral Sentiment: CEO selling appears planned rather than discretionary. CEO Jason Murray sold a combined 68,113 shares for approximately $2.9 million from September 1–3. The transactions were conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only about 0.12%, limiting their significance as a bearish signal. He still owns roughly 54.6 million shares. PACS Group CEO SEC Form 4 filing
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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