Insider Selling: Healthcare Services Group (NASDAQ:HCSG) COO Sells $362,497.52 in Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares in the company, valued at $528,500.84. This represents a 40.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $22.23 on Friday. The business’s fifty day moving average is $23.09 and its 200 day moving average is $21.21. Healthcare Services Group, Inc. has a fifty-two week low of $13.75 and a fifty-two week high of $25.75. The company has a market capitalization of $1.53 billion, a PE ratio of 12.92 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. During the same quarter in the prior year, the business posted ($0.44) earnings per share. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HCSG. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. BMO Capital Markets increased their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Benchmark upped their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Healthcare Services Group in the fourth quarter worth about $33,000. KBC Group NV bought a new position in Healthcare Services Group during the first quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. Finally, OP Asset Management Ltd bought a new stake in Healthcare Services Group in the 1st quarter worth approximately $168,000. Institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.