Insider Selling: Healthcare Services Group (NASDAQ:HCSG) EVP Sells 18,239 Shares of Company Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Jason Bundick sold 18,239 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $25.11, for a total transaction of $457,981.29. Following the sale, the executive vice president directly owned 17,125 shares in the company, valued at $430,008.75. This trade represents a 51.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Healthcare Services Group Stock Down 3.0%

Healthcare Services Group stock traded down $0.75 during trading hours on Tuesday, reaching $24.37. 882,591 shares of the company’s stock were exchanged, compared to its average volume of 736,776. The firm’s 50 day simple moving average is $21.81 and its 200 day simple moving average is $21.28. Healthcare Services Group, Inc. has a twelve month low of $16.78 and a twelve month high of $25.75. The firm has a market capitalization of $1.67 billion, a PE ratio of 16.36 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Healthcare Services Group had a return on equity of 20.22% and a net margin of 5.58%. The company had revenue of $479.60 million for the quarter, compared to the consensus estimate of $480.80 million. During the same period in the previous year, the business earned $0.59 EPS. Analysts anticipate that Healthcare Services Group, Inc. will post 1.32 EPS for the current year.

Institutional Trading of Healthcare Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in Healthcare Services Group by 6.5% in the third quarter. Sterling Capital Management LLC now owns 16,358 shares of the business services provider’s stock valued at $335,000 after acquiring an additional 1,002 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Healthcare Services Group by 52.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock worth $102,000 after purchasing an additional 1,722 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Healthcare Services Group by 48.4% in the 3rd quarter. AMI Asset Management Corp now owns 38,388 shares of the business services provider’s stock worth $785,000 after purchasing an additional 12,519 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Healthcare Services Group by 11.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 119,890 shares of the business services provider’s stock worth $2,452,000 after purchasing an additional 12,484 shares in the last quarter. Finally, SummerHaven Investment Management LLC acquired a new stake in Healthcare Services Group in the 3rd quarter valued at $1,484,000. 97.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on HCSG shares. Oppenheimer started coverage on Healthcare Services Group in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. UBS Group raised their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 25th. Robert W. Baird dropped their target price on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.