PACS (PACS)


Market Price (10/4/2026): $42.845 | Market Cap: $6.8 BilSector: Health Care | Industry: Health Care Facilities

PACS (PACS)


Market Price (10/4/2026): $42.845
Market Cap: $6.8 Bil
Sector: Health Care
Industry: Health Care Facilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Healthcare Real Estate. Themes include Post-Acute Care Real Estate.

Short seller report
Hindenburg Research report on 11/4/2024.

Key risks
PACS key risks include [1] potential NYSE delisting stemming from its failure to timely file financial reports and a necessary accounting restatement, Show more.

0 Megatrend and thematic drivers
Megatrends include Healthcare Real Estate. Themes include Post-Acute Care Real Estate.
1 Short seller report
Hindenburg Research report on 11/4/2024.
2 Key risks
PACS key risks include [1] potential NYSE delisting stemming from its failure to timely file financial reports and a necessary accounting restatement, Show more.

PACS in ETFs

Weight = PACS's share of each fund

VTI0.00%
ITOT0.00%
IWM0.06%
VB0.02%
IHF0.27%
AVUV0.17%
IWO0.13%
DFAS0.09%
+9 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

PACS (PACS) stock has remained largely at the same level since 6/30/2026 because of the following key factors:

1. Post-Earnings Decline Despite Q2 2026 Beat. While PACS Group reported strong financial results for fiscal Q2 2026 (ended June 30, 2026), including an earnings per share (EPS) of $0.63, beating analyst estimates of $0.54, and revenue of $1.43 billion, exceeding estimates of $1.41 billion, the stock experienced a significant negative trend afterward. Following its earnings release on August 4, 2026, and a modest gain of 1.9% on August 5, 2026, PACS stock drifted 10.1% lower over the subsequent 51 days, indicating a re-evaluation by investors despite the initial beat. The stock closed at $42.64 on June 30, 2026, and at $41.55 on September 30, 2026.

2. Significant Insider Selling Activity. During fiscal Q3 2026, Co-Founder Mark Hancock filed a notice on September 15, 2026, to sell 155,682 shares of PACS stock, with an aggregate market value exceeding $6.61 million. Such a substantial insider sale can be perceived by the market as a lack of confidence from company leadership, contributing to negative sentiment and downward pressure on the stock price.

Show more
Updated on 10/1/2026

PACS (PACS) stock has remained largely at the same level since 6/30/2026 because of the following key factors:

1. Post-Earnings Decline Despite Q2 2026 Beat. While PACS Group reported strong financial results for fiscal Q2 2026 (ended June 30, 2026), including an earnings per share (EPS) of $0.63, beating analyst estimates of $0.54, and revenue of $1.43 billion, exceeding estimates of $1.41 billion, the stock experienced a significant negative trend afterward. Following its earnings release on August 4, 2026, and a modest gain of 1.9% on August 5, 2026, PACS stock drifted 10.1% lower over the subsequent 51 days, indicating a re-evaluation by investors despite the initial beat. The stock closed at $42.64 on June 30, 2026, and at $41.55 on September 30, 2026.

2. Significant Insider Selling Activity. During fiscal Q3 2026, Co-Founder Mark Hancock filed a notice on September 15, 2026, to sell 155,682 shares of PACS stock, with an aggregate market value exceeding $6.61 million. Such a substantial insider sale can be perceived by the market as a lack of confidence from company leadership, contributing to negative sentiment and downward pressure on the stock price.

3. Ongoing Regulatory Scrutiny and Investigations. The company's June 30, 2026, Form 10-Q filing revealed ongoing Department of Justice (DOJ) investigations concerning referral source relationships and Medicare reimbursement under the patient-driven payment model. Additionally, a February 2025 subpoena included requests related to PACS's 1135 COVID Waiver practices, Medicare Part B billing for therapy services, and claim reimbursement for bad debt. These unresolved regulatory issues introduce uncertainty regarding potential legal and financial liabilities, which can deter investors and weigh on the stock's performance throughout fiscal Q3 2026.

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Stock Movement Drivers

Fundamental Drivers

The -3.8% change in PACS stock from 6/30/2026 to 10/1/2026 was primarily driven by a -12.3% change in the company's P/E Multiple.
(LTM values as of)630202610012026Change
Stock Price ($)42.6441.03-3.8%
Change Contribution By: 
Total Revenues ($ Mil)5,4325,5512.2%
Net Income Margin (%)4.5%4.8%8.1%
P/E Multiple27.524.1-12.3%
Shares Outstanding (Mil)157158-0.7%
Cumulative Contribution-3.8%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/1/2026
ReturnCorrelation
PACS-3.8% 
Market (SPY)2.3%6.6%
Sector (XLV)4.8%10.6%

Fundamental Drivers

The 27.7% change in PACS stock from 3/31/2026 to 10/1/2026 was primarily driven by a 33.9% change in the company's Net Income Margin (%).
(LTM values as of)331202610012026Change
Stock Price ($)32.1241.0327.7%
Change Contribution By: 
Total Revenues ($ Mil)5,2895,5515.0%
Net Income Margin (%)3.6%4.8%33.9%
P/E Multiple26.324.1-8.2%
Shares Outstanding (Mil)157158-0.9%
Cumulative Contribution27.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/1/2026
ReturnCorrelation
PACS27.7% 
Market (SPY)17.8%14.2%
Sector (XLV)13.9%23.0%

Fundamental Drivers

The 198.8% change in PACS stock from 9/30/2025 to 10/1/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)930202510012026Change
Stock Price ($)13.7341.03198.8%
Change Contribution By: 
Total Revenues ($ Mil)�5,5510.0%
Net Income Margin (%)�4.8%0.0%
P/E Multiple�24.10.0%
Shares Outstanding (Mil)21415835.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/1/2026
ReturnCorrelation
PACS198.8% 
Market (SPY)15.6%3.6%
Sector (XLV)21.0%8.6%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/1/2026
ReturnCorrelation
PACS  
Market (SPY)84.9%13.8%
Sector (XLV)35.2%18.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PACS Return----43%193%10%84%
Peers Return12%-15%64%8%59%21%227%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
PACS Win Rate---67%58%56% 
Peers Win Rate50%47%64%53%67%48% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
PACS Max Drawdown-----47%-28% 
Peers Max Drawdown-31%-36%-20%-25%-18%-25% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ENSG, BKD, NHC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/2/2026 (YTD)

How Low Can It Go

EventPACSS&P 500
2025 US Tariff Shock
  % Loss-34.8%-18.8%
  % Gain to Breakeven53.4%23.1%
  Time to Breakeven58 days79 days

Compare to ENSG, BKD, NHC

In The Past

PACS's stock fell -34.8% during the 2025 US Tariff Shock. Such a loss loss requires a 53.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPACSS&P 500
2025 US Tariff Shock
  % Loss-34.8%-18.8%
  % Gain to Breakeven53.4%23.1%
  Time to Breakeven58 days79 days

Compare to ENSG, BKD, NHC

In The Past

PACS's stock fell -34.8% during the 2025 US Tariff Shock. Such a loss loss requires a 53.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About PACS (PACS)

PACS is a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care through a portfolio of over 200 independently operated facilities across nine U.S. states. The company specializes in short-term transitional care for patients recuperating from acute conditions, illnesses, or serious medical procedures after hospital discharge, though it also provides long-term custodial care, senior care, assisted living, and independent living options. PACS's significant growth is driven by its expertise in acquiring underperforming long-term custodial care facilities and transforming them into higher acuity, high value-add transitional care centers by investing in clinical teams, technology, and operational enhancements.

The company operates through a decentralized model, empowering local leaders at each facility to make clinical and operational decisions autonomously. These local teams receive comprehensive central support from "PACS Services," which provides a robust suite of technology, administrative, financial, human resources, legal, and risk management services, enabling facilities to focus on patient care and regulatory compliance. PACS's primary customers are individuals aged 65 and older, with a substantial portion of its revenue generated from payments by third-party payors, particularly Medicare and Medicaid. This model has led to strong performance, with an average 4.1 CMS Quality Measures Star rating and 93% occupancy rate for mature facilities, exceeding industry averages.

AI Analysis | Feedback

PACS is like a Marriott or Hilton for skilled nursing facilities, operating a large network of decentralized care centers with central support.

AI Analysis | Feedback

  • Skilled Nursing Care: Providing specialized medical and rehabilitative services for patients requiring 24-hour in-patient services, including short-term transitional care after hospital discharge and long-term custodial care.
  • Assisted Living: Offering residential care and support for seniors who need assistance with daily activities.
  • Independent Living: Providing housing and a community environment for self-sufficient seniors.

AI Analysis | Feedback

PACS primarily sells its services to individuals (patients and residents) in need of post-acute and senior care. The company serves the following categories of customers:

  1. Individuals requiring Short-Term Transitional Skilled Nursing Care: These are patients who have been discharged from hospitals but still require 24-hour in-patient services to recuperate from acute conditions, illnesses, or serious medical procedures. This is the company's primary focus and a growing segment of their business.
  2. Individuals requiring Long-Term Custodial Skilled Nursing Care: While PACS's strategy is to transform facilities into higher acuity short-term care, they also serve individuals who need extended skilled nursing services for chronic conditions or ongoing care.
  3. Seniors and Individuals seeking Assisted Living and Independent Living: In some of its communities, PACS provides senior care, assisted living, and independent living options for individuals who need varying levels of support, from minimal assistance to more comprehensive daily living aid, but typically not requiring the same intensity of medical care as skilled nursing patients.

AI Analysis | Feedback

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AI Analysis | Feedback

Jason Murray, Co-Founder, CEO and Chairman

Jason Murray is the Co-Founder, CEO, and Chairman of PACS Group, Inc., which he co-founded with Mark Hancock in 2013. He has over 20 years of experience as an executive in acute and post-acute healthcare settings and is a licensed nursing home administrator. Before co-founding PACS, he worked as a healthcare executive and licensed nursing home administrator. Murray holds a master's degree in healthcare administration and was named 2023 Mountain West Entrepreneur of the Year by Ernst & Young.

Mark Hancock, Co-Founder, Executive Vice Chairman, and Interim Chief Financial Officer

Mark Hancock is a Co-Founder, Executive Vice Chairman, and Interim Chief Financial Officer of PACS Group, Inc. He co-founded the company with Jason Murray in 2013 and previously served as CFO from January 2013 until January 2024, when he was appointed Executive Vice Chairman. He was re-appointed interim CFO on September 3, 2025, following the resignation of the previous CFO. Hancock has over 20 years of experience as a finance professional. Prior to co-founding PACS, he worked as Vice President of Finance and Treasurer of Farm Credit Mid-America, a nursing home administrator at a facility affiliated with Plum Healthcare Group, Director of Corporate Finance for Steel Technologies Inc., and a Finance Manager for Ford Motor Company. He was also named a 2023 Mountain West Entrepreneur of the Year by Ernst & Young.

Josh Jergensen, President and Chief Operating Officer

Josh Jergensen is the President and Chief Operating Officer at PACS Group, Inc. He has been providing operational support to all facilities within the PACS portfolio since 2014. Jergensen is a licensed nursing home administrator and an approved preceptor in California, with more than 10 years of experience operating complex multi-story skilled nursing facilities.

John Mitchell, Chief Legal Officer and Secretary

John Mitchell serves as the Chief Legal Officer and Secretary for PACS Group, Inc., managing the company's legal department. He joined PACS in 2017. Previously, he held positions as Vice President, Legal at HCP, a NYSE-traded healthcare-focused real estate investment trust, and as Senior Vice President, Legal, and Chief Compliance Officer at Skilled Healthcare Group, a NYSE-traded skilled nursing company. He began his career at an international law firm with a focus on corporate, finance, and mergers and acquisitions.

Michelle Lewis, Executive Vice President, Chief Accounting Officer

Michelle Lewis has served as PACS Group, Inc.'s Executive Vice President, Chief Accounting Officer since January 2023. She joined the company in July 2018 and held various roles of increasing responsibility, including Controller. Before joining PACS, Ms. Lewis owned and operated her own certified public accounting firm and provided controller functions at a privately held healthcare organization.

AI Analysis | Feedback

The key risks to PACS's business are:

  1. High Dependence on Government Reimbursement Programs and Regulatory Compliance: A substantial portion of PACS's revenue is generated from payments from third-party payors, particularly Medicare and Medicaid, which together accounted for 76.2% of their routine revenue in 2023 and 77.8% of total revenue in 2022. The company operates in a highly regulated industry with stringent compliance obligations, and any changes to these government reimbursement programs or failure to comply with applicable laws and regulations could result in significant expenditures, regulatory penalties, and a material adverse effect on their financial performance and operations.

  2. Acquisition and Integration Strategy Risks: PACS's significant historical growth has been primarily driven by its strategy of acquiring underperforming long-term custodial care skilled nursing facilities and transforming them into higher acuity, high value-add short-term transitional care facilities. The success of this strategy relies on their expertise in identifying suitable acquisition targets, investing in clinical teams and processes, and upgrading various aspects of the business, often involving an up to three-year post-acquisition transition period. Failure to successfully execute this acquisition and integration strategy, or to effectively convert facilities to higher-value care models, could impede their growth, operational improvements, and profitability.

AI Analysis | Feedback

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AI Analysis | Feedback

The primary addressable market for PACS is the Skilled Nursing Facility (SNF) industry in the U.S. The Centers for Medicare & Medicaid Services (CMS) expects total industry expenditures for SNFs to increase from $193.6 billion in 2022 to $283.3 billion in 2031.

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Expected Drivers of Future Revenue Growth for PACS

  • Strategic Acquisitions and Facility Transformation: PACS's historical growth has been primarily driven by its strategy of acquiring underperforming long-term custodial care skilled nursing facilities and transforming them into higher acuity, high value-add short-term transitional care facilities. This involves investing in clinical teams and processes, upgrading technology, and improving overall operations, which is expected to continue driving revenue growth as new facilities are integrated and optimized.
  • Improved Occupancy Rates and Skilled Mix: The company's operational model focuses on implementing best practices in acquired facilities, leading to significant improvements in clinical quality, occupancy rates, and skilled mix by nursing patient days (the percentage of Medicare and managed care patients). As new facilities mature and existing ones continue to optimize, these enhanced metrics are expected to contribute to increased revenue per patient day and overall revenue growth.
  • Overall Expansion of the Skilled Nursing Facility (SNF) Industry: PACS operates within a growing market, with the Centers for Medicare & Medicaid Services (CMS) projecting total SNF industry expenditures to increase at a compound annual growth rate (CAGR) of 4.3% from $193.6 billion in 2022 to $283.3 billion in 2031. As one of the largest SNF operators in the United States, PACS is well-positioned to benefit from this broader industry expansion.
  • Geographic Expansion: PACS anticipates further penetrating its reach into its current nine states and entering new states in the future through available acquisition opportunities. This geographic expansion will increase its total number of facilities and patient base, contributing to sustained revenue growth.

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Outbound Investments

  • PACS has historically grown primarily through a disciplined acquisition strategy, identifying and acquiring underperforming long-term custodial care skilled nursing facilities.
  • The company focuses on converting acquired facilities into higher-value short-term transitional care facilities by investing in clinical teams, processes, technology, equipment, training, staffing, and aesthetics.
  • PACS intends to explore additional purchases of real-estate assets, through purchase options or right-of-first refusals in existing leases, as well as acquisitions and de novo construction of purpose-built facilities.

Capital Expenditures

  • The primary focus of capital expenditures is on implementing best practices in acquired facilities, including investments in clinical teams and processes, and upgrading technology, equipment, training, staffing, and aesthetics.
  • These expenditures aim to realize and sustain the full potential of facilities during an up to three-year post-acquisition transition period.

Peer Outperformance in Health Care Facilities

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Share of Health Care Facilities constituents that PACS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
—
insufficient peer history
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Mkt Price-172.54-228.10200.32
Mkt Cap-10.0-3.66.8
Rev LTM-5,487-1,5593,523
Op Inc LTM-467-145306
FCF LTM-229-147188
FCF 3Y Avg-208-118163
CFO LTM-608-189399
CFO 3Y Avg-464-152308

Growth & Margins

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Rev Chg LTM-18.9%-6.9%12.9%
Rev Chg 3Y Avg-17.4%-13.0%15.2%
Rev Chg Q-17.3%-8.8%13.1%
QoQ Delta Rev Chg LTM-4.0%-2.2%3.1%
Op Inc Chg LTM-18.2%-24.1%21.2%
Op Inc Chg 3Y Avg-17.9%-66.2%42.1%
Op Mgn LTM-8.5%-9.3%8.9%
Op Mgn 3Y Avg-8.0%-7.8%7.9%
QoQ Delta Op Mgn LTM-0.0%-0.8%0.4%
CFO/Rev LTM-11.1%-12.1%11.6%
CFO/Rev 3Y Avg-9.7%-10.8%10.3%
FCF/Rev LTM-4.2%-9.4%6.8%
FCF/Rev 3Y Avg-4.5%-8.4%6.4%

Valuation

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Mkt Cap-10.0-3.66.8
P/S-1.8-2.32.1
P/Op Inc-21.4-24.623.0
P/EBIT-19.7-19.019.3
P/E-26.4-25.425.9
P/CFO-16.4-18.917.7
Total Yield-4.0%-5.2%4.6%
Dividend Yield-0.2%-1.1%0.6%
FCF Yield 3Y Avg-2.5%-5.7%4.1%
D/E-0.2-0.00.1
Net D/E-0.2--0.10.1

Returns

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
1M Rtn--0.3%-4.5%2.1%
3M Rtn-2.6%-4.7%3.7%
6M Rtn--12.2%-41.0%14.4%
12M Rtn--0.9%-85.7%42.4%
3Y Rtn-88.4%-275.2%181.8%
1M Excs Rtn--0.8%-4.0%1.6%
3M Excs Rtn-0.1%-2.2%1.2%
6M Excs Rtn--30.6%-28.4%-1.1%
12M Excs Rtn--14.9%-75.6%30.4%
3Y Excs Rtn-6.4%-196.7%101.5%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Single Segment5,2894,0903,111
Total5,2894,0903,111


Net Income by Segment
$ Mil202520242023
Single Segment19155113
Total19155113


Price Behavior

Price Behavior
Market Price$41.03 
Market Cap ($ Bil)6.5 
First Trading Date04/11/2024 
Distance from 52W High-15.3% 
   50 Days200 Days
DMA Price$44.06$38.78
DMA Trendupup
Distance from DMA-6.9%5.8%
 3M1YR
Volatility33.1%93.2%
Downside Capture119.79-36.24
Upside Capture59.8095.62
Correlation (SPY)7.7%3.9%
PACS Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.310.080.210.660.260.30
Up Beta-1.61-1.35-1.180.611.180.50
Down Beta-2.92-1.09-0.281.45-0.430.35
Up Capture-2%29%65%65%97%34%
Bmk +ve Days6162766132424
Stock +ve Days8173061120298
Down Capture44%138%93%25%-58%80%
Bmk -ve Days16263760120328
Stock -ve Days14243364130314

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS200.1%93.1%1.52-
Sector ETF (XLV)21.0%16.0%1.008.6%
Equity (SPY)15.7%13.0%0.853.6%
Gold (GLD)7.7%29.6%0.250.5%
Commodities (DBC)45.6%20.8%1.69-11.0%
Real Estate (VNQ)1.2%13.6%-0.168.8%
Bitcoin (BTCUSD)-25.7%44.5%-0.54-7.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS13.3%81.0%0.65-
Sector ETF (XLV)6.3%15.2%0.2318.3%
Equity (SPY)13.0%17.2%0.5713.7%
Gold (GLD)18.6%18.9%0.801.7%
Commodities (DBC)10.6%19.6%0.42-3.2%
Real Estate (VNQ)0.4%18.9%-0.0821.6%
Bitcoin (BTCUSD)13.6%52.3%0.43-0.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS6.4%81.0%0.65-
Sector ETF (XLV)10.4%16.7%0.5118.3%
Equity (SPY)15.3%17.9%0.7213.7%
Gold (GLD)11.6%16.4%0.581.7%
Commodities (DBC)8.4%18.1%0.38-3.2%
Real Estate (VNQ)4.4%20.7%0.1721.6%
Bitcoin (BTCUSD)64.2%66.2%1.04-0.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity3.7 Mil
Short Interest: % Change Since 831202612.4%
Average Daily Volume0.7 Mil
Days-to-Cover Short Interest5.3 days
Basic Shares Quantity158.1 Mil
Short % of Basic Shares2.4%

Earnings Returns History

Updated 9/21/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.9%0.3%-3.8%
5/11/202628.6%15.4%7.6%
2/26/2026-12.4%-14.6%-26.6%
11/19/202555.3%91.1%119.1%
9/11/202524.5%45.5%69.9%
11/6/2024-38.8%-30.5%-50.5%
8/12/202418.8%23.1%22.2%
5/13/20247.3%13.8%17.8%
SUMMARY STATS   
# Positive665
# Negative223
Median Positive21.7%19.2%22.2%
Median Negative-25.6%-22.6%-26.6%
Max Positive55.3%91.1%119.1%
Max Negative-38.8%-30.5%-50.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.9%0.3%-3.8%
5/11/202628.6%15.4%7.6%
2/26/2026-12.4%-14.6%-26.6%
11/19/202555.3%91.1%119.1%
9/11/202524.5%45.5%69.9%
11/6/2024-38.8%-30.5%-50.5%
8/12/202418.8%23.1%22.2%
5/13/20247.3%13.8%17.8%
SUMMARY STATS   
# Positive665
# Negative223
Median Positive21.7%19.2%22.2%
Median Negative-25.6%-22.6%-26.6%
Max Positive55.3%91.1%119.1%
Max Negative-38.8%-30.5%-50.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/19/202510-Q
06/30/202511/19/202510-Q
03/31/202511/19/202510-Q
12/31/202411/19/202510-K
09/30/202411/19/202510-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202304/12/2024424B4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/19/202510-Q
06/30/202511/19/202510-Q
03/31/202511/19/202510-Q
12/31/202411/19/202510-K
09/30/202411/19/202510-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202304/12/2024424B4

Recent Forward Guidance

Updated 9/28/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported5.75 Bil5.80 Bil5.85 Bil  RaisedGuidance: 5.70 Bil for 2026
2026 Adjusted EBITDAReported640.00 Mil650.00 Mil660.00 Mil  RaisedGuidance: 615.00 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported5.65 Bil5.70 Bil5.75 Bil0 AffirmedGuidance: 5.70 Bil for 2026
2026 Adjusted EBITDAReported605.00 Mil615.00 Mil625.00 Mil8.8% RaisedGuidance: 565.00 Mil for 2026

Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported5.65 Bil5.70 Bil5.75 Bil7.5% Higher NewGuidance: 5.30 Bil for 2025
2026 Adjusted EBITDAReported555.00 Mil565.00 Mil575.00 Mil16.5% Higher NewGuidance: 485.00 Mil for 2025

Insider Activity

Updated 9/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jergensen, JoshuaPresident & COODirectSell917202643.1340,0001,725,133107,662,124Form
2Hancock, Mark DirectSell915202642.47155,6826,612,0292,273,020,825Form
3Hancock, Mark DirectSell915202644.57144,3186,432,8522,392,498,203Form
4Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell914202645.0331714,2752,456,671,962Form
5Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell914202645.2310,529476,1902,467,357,306Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jergensen, JoshuaPresident & COODirectSell917202643.1340,0001,725,133107,662,124Form
2Hancock, Mark DirectSell915202642.47155,6826,612,0292,273,020,825Form
3Hancock, Mark DirectSell915202644.57144,3186,432,8522,392,498,203Form
4Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell914202645.0331714,2752,456,671,962Form
5Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell914202645.2310,529476,1902,467,357,306Form
6Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell914202645.168,771396,1052,464,248,503Form
7Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell909202643.334,758206,1472,364,532,474Form
8Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell909202643.4924,0571,046,3272,373,868,339Form
9Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell909202642.6923,072984,8992,330,925,130Form
10Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell903202642.5620,173858,4832,324,699,038Form
11Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell903202642.9423,7831,021,2222,346,492,530Form
12Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell903202642.3924,1571,024,0482,317,564,749Form
13Conway, Patrick Hugh DirectSell827202644.413,497155,302397,336Form
14Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9059,2442,601,0862,401,357,754Form
15Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9291,3064,010,3472,404,912,894Form
16Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.2684,7173,749,9952,427,730,191Form
17Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.1866,7972,951,1382,426,851,727Form
18Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.1684,6023,736,3012,428,844,387Form
19Jergensen, JoshuaPresident & COODirectSell814202645.5940,0001,823,689115,636,490Form
20Hancock, Mark DirectSell716202645.053,332150,1152,428,639,891Form
21Jergensen, JoshuaPresident & COODirectSell716202645.0240,0001,800,718115,980,626Form
22Hancock, Mark DirectSell716202645.0310,296463,6802,427,846,578Form
23Hancock, Mark DirectSell710202645.064,966223,7812,429,803,856Form
24Hancock, Mark DirectSell710202645.0720,338916,6112,430,361,975Form
25Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.044,137186,33316,004,637Form
26Hancock, Mark DirectSell706202645.33142,1636,444,8602,445,595,806Form
27Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.036,663300,03216,187,015Form
28Hancock, Mark DirectSell706202645.0112,825577,2902,434,656,790Form
29Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.014,200189,05916,481,373Form
30Hancock, Mark DirectSell706202645.026,080273,7162,435,569,505Form
31Hancock, MarkCo Fndr; Exec V ChairDirectSell626202640.5061,9312,508,0852,191,050,145Form
32Hancock, MarkCo Fndr; Exec V ChairDirectSell626202640.33138,0695,567,7012,184,211,674Form
33Lewis, Michelle ReneeChief Accounting OfficerDirectSell626202640.0115,000600,17814,817,927Form
34Hancock, MarkCo Fndr; Exec V ChairDirectSell622202635.3163,6802,248,4151,917,317,697Form
35Hancock, MarkCo Fndr; Exec V ChairDirectSell617202635.9083,0662,982,3851,951,955,936Form
36Hancock, MarkCo Fndr; Exec V ChairDirectSell617202636.34153,2545,568,7561,978,513,308Form
37Mitchell, John ToddChief Legal Officer & Sec.DirectSell519202637.1627,3891,017,69229,858,080Form
38Mitchell, John ToddChief Legal Officer & Sec.DirectSell519202638.0252,7632,006,01431,592,353Form
39Jergensen, JoshuaPresident & COODirectSell317202634.2836,3351,245,64791,442,790Form
40Dilsaver, Evelyn S DirectBuy1126202529.9016,724499,997679,828Form
41Mitchell, John ToddChief Legal Officer & Sec.DirectSell1126202529.89159,5564,768,37922,588,386Form

Investor Activity (13F)

Updated Oct 4, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
8 Knots Management, LLC$23.4 Mil2.7%12ExitedDec 31, 202513F
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%13F
Core Cache Last Updated: 10/1/2026