Patrick Orr Sells 44,615 Shares of Healthcare Services Group (NASDAQ:HCSG) Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Patrick Orr sold 44,615 shares of Healthcare Services Group stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.53, for a total value of $915,945.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Healthcare Services Group Trading Up 2.1%

Shares of Healthcare Services Group stock traded up $0.42 during trading on Friday, reaching $20.64. The stock had a trading volume of 1,102,419 shares, compared to its average volume of 796,409. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 25.17 and a beta of 0.74. The stock has a fifty day moving average price of $19.42 and a two-hundred day moving average price of $17.64. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.21. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The business had revenue of $466.68 million for the quarter, compared to analyst estimates of $467.24 million. During the same quarter last year, the firm earned $0.16 EPS. Healthcare Services Group’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Miller Global Investments LLC bought a new position in shares of Healthcare Services Group in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its stake in Healthcare Services Group by 163.4% in 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 during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Healthcare Services Group in the 4th quarter valued at about $33,000. GAMMA Investing LLC raised its holdings in Healthcare Services Group by 94.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Healthcare Services Group by 32.0% during the fourth 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. 97.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HCSG shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, February 12th. Wall Street Zen raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Robert W. Baird set a $23.00 price target on Healthcare Services Group in a research report on Thursday, February 12th. Finally, Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Healthcare Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.