PACS Group, Inc. (NYSE:PACS – Get Free Report) CEO Jason Murray sold 317 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $45.03, for a total value of $14,274.51. Following the completion of the transaction, the chief executive officer directly owned 54,555,249 shares of the company’s stock, valued at approximately $2,456,622,862.47. This trade represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jason Hulse Murray also recently made the following trade(s):
- On Friday, September 11th, Jason Murray sold 10,529 shares of PACS Group stock. The stock was sold at an average price of $45.23, for a total value of $476,226.67.
- On Thursday, September 10th, Jason Murray sold 8,771 shares of PACS Group stock. The shares were sold at an average price of $45.16, for a total value of $396,098.36.
- On Wednesday, September 9th, Jason Murray sold 4,758 shares of PACS Group stock. The shares were sold at an average price of $43.33, for a total value of $206,164.14.
- On Tuesday, September 8th, Jason Murray sold 24,057 shares of PACS Group stock. The stock was sold at an average price of $43.49, for a total value of $1,046,238.93.
- On Friday, September 4th, Jason Murray sold 23,072 shares of PACS Group stock. The shares were sold at an average price of $42.69, for a total value of $984,943.68.
- On Thursday, September 3rd, Jason Murray sold 20,173 shares of PACS Group stock. The shares were sold at an average price of $42.56, for a total transaction of $858,562.88.
- On Wednesday, September 2nd, Jason Murray sold 23,783 shares of PACS Group stock. The stock was sold at an average price of $42.94, for a total transaction of $1,021,242.02.
- On Tuesday, September 1st, Jason Murray sold 24,157 shares of PACS Group stock. The stock was sold at an average price of $42.39, for a total transaction of $1,024,015.23.
- On Friday, August 21st, Jason Murray sold 59,244 shares of PACS Group stock. The shares were sold at an average price of $43.90, for a total transaction 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 transaction of $4,010,159.52.
PACS Group Trading Up 1.5%
Shares of PACS Group stock opened at $42.72 on Thursday. The firm has a market capitalization of $6.76 billion, a PE ratio of 24.84, a P/E/G ratio of 1.31 and a beta of -0.13. PACS Group, Inc. has a twelve month low of $10.31 and a twelve month high of $49.49. The firm’s 50-day moving average price is $44.69 and its 200 day moving average price is $39.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of PACS. Dimensional Fund Advisors LP increased its position in PACS Group by 370.2% during the first quarter. Dimensional Fund Advisors LP now owns 780,159 shares of the company’s stock worth $25,051,000 after purchasing an additional 614,250 shares during the last quarter. 8 Knots Management LLC purchased a new position in PACS Group during the fourth quarter worth about $23,421,000. Sei Investments Co. boosted its holdings in PACS Group by 7.4% in the 1st quarter. Sei Investments Co. now owns 370,501 shares of the company’s stock valued at $11,900,000 after purchasing an additional 25,462 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in PACS Group by 44.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 288,718 shares of the company’s stock valued at $9,274,000 after purchasing an additional 89,067 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of PACS Group in the 2nd quarter valued at approximately $8,196,000.
PACS Group News Roundup
Here are the key news stories impacting PACS Group this week:
- Positive Sentiment: Management provided updates on PACS Group’s growth strategy, including the Eduro and Florida acquisitions. The company’s focus on expanding its post-acute-care footprint could support future revenue and earnings growth. PACS growth strategy, Eduro and Florida acquisitions
- Positive Sentiment: PACS is reportedly using higher patient volume and mergers and acquisitions to offset managed-care pressures. If successful, the strategy could improve scale and help defend margins in a challenging reimbursement environment. PACS managed-care and M&A strategy
- Positive Sentiment: The latest reported quarter exceeded expectations, with earnings per share of $0.63 versus the $0.54 consensus estimate and revenue of $1.43 billion versus $1.41 billion expected. Analysts’ average price target remains about $58.80, above recent trading levels, with an overall “Moderate Buy” rating.
- Neutral Sentiment: Director Mark Hancock sold 144,318 shares for approximately $6.4 million on September 14 and another 155,682 shares for about $6.6 million on September 15. Both transactions were made under a pre-arranged Rule 10b5-1 plan, and Hancock still owns more than 53.5 million shares, limiting the signal from the sales. Mark Hancock PACS insider sales
- Negative Sentiment: CEO Jason Murray has also continued selling shares, including 317 shares on September 14 and 10,529 shares on September 11, following several larger sales earlier in the month. The transactions were conducted under a 10b5-1 plan, but repeated executive selling may create modest near-term pressure or investor concern. Jason Murray PACS insider sales
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Truist Financial set a $62.00 price objective on PACS Group in a report on Wednesday, September 2nd. UBS Group upped their target price on shares of PACS Group from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Oppenheimer increased their target price on shares of PACS Group from $48.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen downgraded shares of PACS Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Royal Bank Of Canada boosted their price target on shares of PACS Group from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.80.
Get Our Latest Stock Report on PACS
About PACS Group
PACS Group, Inc is a U.S. healthcare services company that operates skilled nursing and post-acute care facilities. Its facilities provide short-term rehabilitation, long-term skilled nursing, nursing care, and related clinical services for patients recovering from illness, injury, surgery, or hospitalization.
The company’s broader care offerings may include assisted living, memory care, behavioral health, and other specialized post-acute services, depending on the facility and market.
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