LPL Financial LLC Sells 2,391 Shares of Healthcare Services Group, Inc. (HCSG)

LPL Financial LLC cut its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 22.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,494 shares of the business services provider’s stock after selling 2,391 shares during the period. LPL Financial LLC’s holdings in Healthcare Services Group were worth $345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Advisors LLC raised its holdings in shares of Healthcare Services Group by 3.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 80,115 shares of the business services provider’s stock worth $3,460,000 after buying an additional 2,325 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Healthcare Services Group by 5.4% during the 3rd quarter. AMI Asset Management Corp now owns 854,408 shares of the business services provider’s stock worth $34,706,000 after acquiring an additional 44,151 shares during the last quarter. Bahl & Gaynor Inc. raised its position in Healthcare Services Group by 34.3% in the 3rd quarter. Bahl & Gaynor Inc. now owns 294,658 shares of the business services provider’s stock worth $11,969,000 after purchasing an additional 75,290 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Healthcare Services Group by 15.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,501 shares of the business services provider’s stock valued at $49,606,000 after purchasing an additional 154,058 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in shares of Healthcare Services Group by 35.7% in the third quarter. Riverhead Capital Management LLC now owns 71,213 shares of the business services provider’s stock worth $2,893,000 after buying an additional 18,720 shares in the last quarter.

HCSG stock opened at $43.26 on Friday. The company has a market capitalization of $3.16 billion, a PE ratio of 44.08 and a beta of 0.89. Healthcare Services Group, Inc. has a twelve month low of $35.04 and a twelve month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Healthcare Services Group had a net margin of 3.59% and a return on equity of 17.80%. The firm had revenue of $506.90 million during the quarter, compared to analyst estimates of $510.27 million. During the same quarter last year, the company earned $0.31 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Healthcare Services Group, Inc. will post 1.43 EPS for the current fiscal year.

HCSG has been the subject of several research reports. Jefferies Financial Group set a $53.00 price objective on shares of Healthcare Services Group and gave the company a “buy” rating in a research note on Tuesday, October 2nd. ValuEngine raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, December 6th. BidaskClub raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Berenberg Bank initiated coverage on Healthcare Services Group in a report on Thursday, October 4th. They issued a “hold” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.86.

In related news, Director Dino D. Ottaviano sold 700 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $46.98, for a total value of $32,886.00. Following the completion of the transaction, the director now directly owns 1,244 shares of the company’s stock, valued at approximately $58,443.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert J. Moss sold 2,000 shares of Healthcare Services Group stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $47.55, for a total transaction of $95,100.00. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $95,100. The disclosure for this sale can be found here. Insiders sold a total of 7,701 shares of company stock worth $347,780 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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Healthcare Services Group Company Profile

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.

Further Reading: How Does the Quiet Period Work?

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

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