Healthcare Services Group, Inc. (HCSG) Holdings Reduced by Bellevue Group AG

Bellevue Group AG cut its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 60.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the business services provider’s stock after selling 23,000 shares during the period. Bellevue Group AG’s holdings in Healthcare Services Group were worth $648,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Healthcare Services Group by 61.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,670 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,400 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Healthcare Services Group during the second quarter worth approximately $203,000. Brookstone Capital Management acquired a new position in shares of Healthcare Services Group during the second quarter worth approximately $203,000. Allianz Asset Management GmbH acquired a new position in shares of Healthcare Services Group during the first quarter worth approximately $212,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Healthcare Services Group during the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Shares of HCSG stock opened at $41.09 on Friday. Healthcare Services Group, Inc. has a 1 year low of $35.04 and a 1 year high of $56.20. The company has a market cap of $3.02 billion, a PE ratio of 34.53 and a beta of 0.82.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, July 17th. The business services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The business had revenue of $503.70 million for the quarter, compared to the consensus estimate of $508.78 million. Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. research analysts anticipate that Healthcare Services Group, Inc. will post 1.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 24th will be paid a dividend of $0.1938 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, August 23rd. Healthcare Services Group’s payout ratio is 64.71%.

A number of equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. ValuEngine lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Benchmark reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, July 18th. Stifel Nicolaus lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating and reduced their target price for the stock from $44.00 to $35.00 in a research report on Wednesday, July 18th. Finally, Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 30th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Healthcare Services Group presently has an average rating of “Hold” and an average price target of $47.00.

In related news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $41.61, for a total transaction of $124,871.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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