Healthcare Services Group, Inc. (NASDAQ:HCSG) Director Sells $204,510.00 in Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) Director Robert L. Frome sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $24.06, for a total value of $204,510.00. Following the transaction, the director now owns 9,907 shares of the company’s stock, valued at $238,362.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

HCSG traded up $0.07 during trading on Friday, reaching $25.70. The stock had a trading volume of 1,383,619 shares, compared to its average volume of 934,672. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 22.95 and a beta of 0.71. Healthcare Services Group, Inc. has a 1-year low of $21.16 and a 1-year high of $48.73. The stock has a 50 day moving average of $23.07 and a two-hundred day moving average of $30.35.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The firm had revenue of $462.10 million during the quarter, compared to analyst estimates of $477.68 million. Healthcare Services Group had a return on equity of 19.40% and a net margin of 4.38%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that Healthcare Services Group, Inc. will post 0.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 23rd will be issued a $0.199 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.80 annualized dividend and a dividend yield of 3.10%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio is currently 71.43%.

Several brokerages have recently issued reports on HCSG. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. BidaskClub upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group cut their target price on Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, June 27th. Finally, ValuEngine downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 22nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.29.

Several hedge funds and other institutional investors have recently bought and sold shares of HCSG. Wasatch Advisors Inc. increased its holdings in shares of Healthcare Services Group by 62.9% in the second quarter. Wasatch Advisors Inc. now owns 4,451,427 shares of the business services provider’s stock valued at $134,967,000 after buying an additional 1,719,494 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Healthcare Services Group by 61.4% in the second quarter. Mackenzie Financial Corp now owns 3,072,947 shares of the business services provider’s stock valued at $93,172,000 after buying an additional 1,169,018 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Healthcare Services Group in the first quarter valued at $29,635,000. Van Berkom & Associates Inc. increased its holdings in shares of Healthcare Services Group by 23.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,993,773 shares of the business services provider’s stock valued at $60,451,000 after buying an additional 380,175 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Healthcare Services Group in the second quarter valued at $9,859,000.

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

Further Reading: Limitations of the P/E Growth ratio

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