Wedbush Securities Inc. Sells 2,215 Shares of Healthcare Services Group, Inc. (HCSG)
Wedbush Securities Inc. lowered its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,398 shares of the business services provider’s stock after selling 2,215 shares during the period. Wedbush Securities Inc.’s holdings in Healthcare Services Group were worth $487,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after buying an additional 108 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Healthcare Services Group during the first quarter worth $202,000. Emerald Advisers Inc. PA acquired a new position in shares of Healthcare Services Group during the first quarter worth $204,000. Harfst & Associates Inc. acquired a new position in shares of Healthcare Services Group during the first quarter worth $206,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Healthcare Services Group during the first quarter worth $213,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
Healthcare Services Group, Inc. (HCSG) opened at 51.91 on Wednesday. The stock’s 50 day moving average price is $50.70 and its 200-day moving average price is $45.90. Healthcare Services Group, Inc. has a one year low of $34.83 and a one year high of $54.28. The stock has a market cap of $3.80 billion, a P/E ratio of 45.54 and a beta of 0.61.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The business had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts predict that Healthcare Services Group, Inc. will post $1.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 18th will be given a $0.1888 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is currently 65.22%.
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A number of research analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on Healthcare Services Group in a report on Friday, May 19th. They set an “outperform” rating and a $50.00 price target on the stock. BidaskClub downgraded Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird lifted their price target on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price target (up previously from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $53.00.
In related news, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.82, for a total value of $1,165,950.00. Following the completion of the sale, the insider now owns 32,542 shares in the company, valued at approximately $1,686,326.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John Christopher Shea sold 4,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $52.00, for a total transaction of $247,000.00. Following the completion of the sale, the chief financial officer now owns 7,157 shares of the company’s stock, valued at approximately $372,164. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,235 shares of company stock valued at $2,494,065. 4.30% of the stock is owned by corporate insiders.
About Healthcare Services Group
Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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