PACS Group (NYSE:PACS) Insider Mark Hancock Sells 61,931 Shares of Stock

by · The Markets Daily

PACS Group, Inc. (NYSE:PACS – Get Free Report) insider Mark Hancock sold 61,931 shares of PACS Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $40.50, for a total value of $2,508,205.50. Following the sale, the insider directly owned 54,102,597 shares in the company, valued at approximately $2,191,155,178.50. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

  • On Thursday, June 25th, Mark Hancock sold 138,069 shares of PACS Group stock. The shares were sold at an average price of $40.33, for a total transaction of $5,568,322.77.
  • On Wednesday, June 17th, Mark Hancock sold 63,680 shares of PACS Group stock. The stock was sold at an average price of $35.31, for a total transaction of $2,248,540.80.
  • On Tuesday, June 16th, Mark Hancock sold 83,066 shares of PACS Group stock. The shares were sold at an average price of $35.90, for a total transaction of $2,982,069.40.
  • On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were 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 $41.79 on Friday. PACS Group, Inc. has a 12-month low of $7.50 and a 12-month high of $43.08. 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 firm has a market capitalization of $6.61 billion and a PE ratio of 26.79. The firm has a 50-day moving average price of $36.40 and a 200 day moving average price of $36.25.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. PACS Group had a return on equity of 26.47% and a net margin of 4.49%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Research analysts anticipate that PACS Group, Inc. will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PACS. Weiss Ratings restated a “hold (c)” rating on shares of PACS Group in a research report on Wednesday. Oppenheimer raised their price objective on shares of PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. UBS Group lifted their target price on shares of PACS Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Zacks Research downgraded PACS Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Truist Financial boosted their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, PACS Group currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Check Out Our Latest Analysis on PACS

Hedge Funds Weigh In On PACS Group

Several hedge funds have recently added to or reduced their stakes in PACS. Cubist Systematic Strategies LLC bought a new position in PACS Group in the first quarter valued at about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PACS Group by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company’s stock worth $262,000 after purchasing an additional 1,443 shares during the last quarter. Millennium Management LLC lifted its position in PACS Group by 68.3% during the 1st quarter. Millennium Management LLC now owns 859,295 shares of the company’s stock valued at $9,658,000 after purchasing an additional 348,743 shares during the period. Jones Financial Companies Lllp acquired a new position in PACS Group during the 1st quarter valued at about $64,000. Finally, Caxton Associates LLP bought a new position in shares of PACS Group in the 1st quarter valued at about $163,000.

PACS Group Company Profile

(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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