PACS Group, Inc. (NYSE:PACS - Get Free Report) CAO Michelle Renee Lewis sold 4,137 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $45.04, for a total value of $186,330.48. Following the completion of the transaction, the chief accounting officer owned 355,338 shares in the company, valued at $16,004,423.52. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michelle Renee Lewis also recently made the following trade(s):
- On Thursday, July 2nd, Michelle Renee Lewis sold 6,663 shares of PACS Group stock. The stock was sold at an average price of $45.03, for a total transaction of $300,034.89.
- On Wednesday, July 1st, Michelle Renee Lewis sold 4,200 shares of PACS Group stock. The stock was sold at an average price of $45.01, for a total transaction of $189,042.00.
- On Thursday, June 25th, Michelle Renee Lewis sold 15,000 shares of PACS Group stock. The shares were sold at an average price of $40.01, for a total transaction of $600,150.00.
PACS Group Stock Up 0.5%
PACS stock opened at $44.68 on Tuesday. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $45.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.33 and a beta of -0.08. The company has a 50 day moving average of $37.39 and a two-hundred day moving average of $36.72.
PACS Group (NYSE:PACS - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.36 billion. On average, equities analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On PACS Group
Several institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. lifted its position in shares of PACS Group by 159.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,250,007 shares of the company's stock worth $86,378,000 after buying an additional 1,382,984 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of PACS Group by 93.1% during the 4th quarter. Crewe Advisors LLC now owns 2,147,815 shares of the company's stock valued at $82,455,000 after acquiring an additional 1,035,747 shares during the last quarter. Marshall Wace LLP raised its stake in shares of PACS Group by 348.6% in the 3rd quarter. Marshall Wace LLP now owns 1,010,906 shares of the company's stock valued at $13,880,000 after acquiring an additional 785,537 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of PACS Group by 120.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock valued at $14,595,000 after acquiring an additional 617,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in PACS Group by 370.2% in the 1st 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.
PACS Group News Summary
Here are the key news stories impacting PACS Group this week:
- Negative Sentiment: Director Mark Hancock sold 142,163 shares at an average price of $45.33, worth about $6.4 million, in a pre-arranged Rule 10b5-1 plan. The filing follows several other recent sales by Hancock, adding to concerns that insiders may be taking profits after the stock’s strong run. PACS Group (NYSE:PACS) Director Sells 142,163 Shares
- Neutral Sentiment: Earlier insider transactions also showed Hancock selling 12,825 shares and 6,080 shares, while Chief Accounting Officer Michelle Renee Lewis sold multiple smaller blocks of stock. These trades were also made under pre-arranged plans, so they do not necessarily signal a fundamental change in the business, but they may still pressure sentiment. PACS Group insider trading update
- Neutral Sentiment: The company’s recent earnings and analyst backdrop remain supportive: PACS previously beat EPS and revenue estimates, and analysts maintain a moderate buy rating with a price target around $48. That positive setup may be helping limit downside despite the insider selling. PACS Group stock overview
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded PACS Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Weiss Ratings restated a "hold (c)" rating on shares of PACS Group in a report on Wednesday, June 24th. Wall Street Zen raised shares of PACS Group from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 15th. Oppenheimer lifted their target price on shares of PACS Group from $42.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, Truist Financial boosted their target price on shares of PACS Group from $50.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, PACS Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.
Check Out Our Latest Stock Report on PACS Group
PACS Group Company Profile
(
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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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