Key Points
- Insider sale: PACS Group insider Mark Hancock sold 83,066 shares on June 16 at an average price of $35.90, totaling about $3.0 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Recent trading activity: Hancock also sold 153,254 shares on June 15 for roughly $5.57 million, making the two-day insider selling activity notable. After the June 16 transaction, he still directly owned more than 54.3 million shares.
- Company and analyst backdrop: PACS Group recently beat quarterly earnings expectations, reporting $0.50 EPS versus $0.42 expected on revenue of $1.42 billion. Analysts remain generally positive overall, with a consensus rating of Moderate Buy and an average price target of $48.00.
PACS Group, Inc. (NYSE:PACS - Get Free Report) insider Mark Hancock sold 83,066 shares of PACS Group stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $35.90, for a total transaction of $2,982,069.40. Following the sale, the insider directly owned 54,366,277 shares of the company's stock, valued at $1,951,749,344.30. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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, 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 Performance
NYSE PACS opened at $35.35 on Thursday. PACS Group, Inc. has a 52-week low of $7.50 and a 52-week high of $43.08. 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 company has a market capitalization of $5.60 billion and a P/E ratio of 22.66. The company has a fifty day moving average of $35.80 and a 200-day moving average of $35.96.
PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.08. PACS Group had a net margin of 4.49% and a return on equity of 26.47%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts predict that PACS Group, Inc. will post 2.19 EPS for the current fiscal year.
Wall Street Analyst Weigh In
PACS has been the subject of a number of research analyst reports. Zacks Research downgraded shares of PACS Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. UBS Group boosted their price target on shares of PACS Group from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Wall Street Zen raised shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research note on Monday. Truist Financial upped their price objective on shares of PACS Group from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PACS Group in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.00.
View Our Latest Stock Report on PACS
Institutional Investors Weigh In On PACS Group
A number of institutional investors have recently made changes to their positions in the company. Jacobsen Capital Management grew its holdings in shares of PACS Group by 1.6% during the first quarter. Jacobsen Capital Management now owns 18,128 shares of the company's stock valued at $582,000 after buying an additional 294 shares during the last quarter. Larson Financial Group LLC lifted its position in PACS Group by 127.0% during the fourth quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $42,000 after purchasing an additional 612 shares during the period. Hollencrest Capital Management bought a new position in PACS Group in the fourth quarter worth approximately $27,000. Strategic Advocates LLC raised its position in PACS Group by 18.5% in the fourth quarter. Strategic Advocates LLC now owns 5,182 shares of the company's stock worth $203,000 after acquiring an additional 808 shares during the period. Finally, Peterson Wealth Services raised its position in PACS Group by 1.6% in the first quarter. Peterson Wealth Services now owns 53,672 shares of the company's stock worth $1,724,000 after acquiring an additional 854 shares during the period.
About PACS Group
(
Get Free Report)
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.
Further Reading
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