Key Points
- Insider sale: PACS Group insider Mark Hancock sold 61,931 shares on June 26 at an average price of $40.50, worth about $2.51 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Recent selling activity: Hancock has also sold additional PACS shares in several trades earlier in June, indicating a broader pattern of insider selling over the month.
- Stock and fundamentals: PACS Group shares were trading up 2.7% at $41.79, near their 52-week high of $43.08. The company recently beat quarterly earnings and revenue estimates, and analysts currently rate the stock a Moderate Buy with a $48 price target.
PACS Group, Inc. (NYSE:PACS - Get Free Report) CAO Michelle Renee Lewis sold 15,000 shares of the business's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00. Following the completion of the transaction, the chief accounting officer owned 370,338 shares of the company's stock, valued at approximately $14,817,223.38. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PACS Group Stock Up 2.7%
PACS stock opened at $41.79 on Friday. The firm has a market cap of $6.61 billion and a PE ratio of 26.79. 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 firm's fifty day moving average is $36.40 and its 200 day moving average is $36.25. PACS Group, Inc. has a one year low of $7.50 and a one year high of $43.08.
PACS Group (NYSE:PACS - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.50 earnings per share 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.36 billion. On average, research analysts forecast that PACS Group, Inc. will post 2.23 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of PACS Group in a report on Wednesday. Royal Bank Of Canada lifted their target price on shares of PACS Group from $47.00 to $52.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. UBS Group boosted their target price 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, June 15th. Finally, Truist Financial lifted their price objective on PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.00.
Read Our Latest Stock Analysis on PACS Group
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of PACS. Hollencrest Capital Management acquired a new stake in shares of PACS Group in the fourth quarter valued at approximately $27,000. Quarry LP raised its stake in PACS Group by 79.5% during the third quarter. Quarry LP now owns 2,388 shares of the company's stock worth $33,000 after purchasing an additional 1,058 shares during the period. Larson Financial Group LLC boosted its holdings in PACS Group by 127.0% in the 4th 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 last quarter. KBC Group NV purchased a new stake in shares of PACS Group in the 1st quarter valued at approximately $42,000. Finally, Western Wealth Management LLC purchased a new stake in shares of PACS Group in the 1st quarter valued at approximately $48,000.
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.
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