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Truist initates PACS Group Inc. (PACS) stock to a Buy

PACS Group Inc.’s filing revealed that its Co-Founder, CEO & Chairman Murray Jason Hulse unloaded Company’s shares for reported $33.75 million on Apr 15 ’24. In the deal valued at $21.00 per share,1,607,142 shares were sold. As a result of this transaction, Murray Jason Hulse now holds 62,754,551 shares worth roughly $1.69 billion.

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Then, Hancock Mark sold 1,607,142 shares, generating $33,749,982 in total proceeds. Upon selling the shares at $21.00, the Co-Founder & Exec. Vice Chair. now owns 62,754,551 shares.

Before that, Millard Jacqueline bought 433 shares. PACS Group Inc. shares valued at $9,993 were divested by the Director at a price of $23.08 per share. As a result of the transaction, Millard Jacqueline now holds 433 shares, worth roughly $11652.03.

Truist initiated its PACS Group Inc. [PACS] rating to a Buy in a research note published on May 06, 2024; the price target was $32. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in early May with a ‘”an Overweight”‘ rating. RBC Capital Mkts began covering PACS with “an Outperform” recommendation on May 06, 2024. Oppenheimer started covering the stock on May 06, 2024. It rated PACS as “an Outperform”.

Price Performance Review of PACS

On Tuesday, PACS Group Inc. [NYSE:PACS] saw its stock jump 7.30% to $26.91. Over the last five days, the stock has gained 7.68%. PACS Group Inc. shares have risen nearly 17.00% since the year began. A total of 0.53 million shares were traded, compared to the trading of 0.53 million shares in the previous session.

Levels Of Support And Resistance For PACS Stock

The 24-hour chart illustrates a support level at 25.63, which if violated will result in even more drops to 24.36. On the upside, there is a resistance level at 27.70. A further resistance level may holdings at 28.50. The Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 8.24%. Stochastics %K at 77.36% indicates the stock is a holding.

The most recent change occurred on May 06, 2024 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $27 price target.

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