Healthcare Services Group Inc. (HCSG) Insider Sells $305,730.00 in Stock
Healthcare Services Group Inc. (NASDAQ:HCSG) insider Michael E. Mcbryan sold 8,600 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $35.55, for a total transaction of $305,730.00. Following the transaction, the insider now directly owns 18,070 shares in the company, valued at approximately $642,388.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Healthcare Services Group Inc. (NASDAQ:HCSG) opened at 36.38 on Tuesday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 40.38 and a beta of 0.67. The company’s 50-day moving average is $37.43 and its 200-day moving average is $38.65. Healthcare Services Group Inc. has a 12-month low of $31.50 and a 12-month high of $42.18.
Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, October 11th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.00. The business had revenue of $392.70 million for the quarter. Healthcare Services Group had a net margin of 4.33% and a return on equity of 20.97%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. On average, equities analysts forecast that Healthcare Services Group Inc. will post $1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, November 18th will be given a $0.185 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, November 16th. Healthcare Services Group’s dividend payout ratio (DPR) is 80.44%.
A number of equities analysts have recently commented on HCSG shares. Zacks Investment Research raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Robert W. Baird started coverage on shares of Healthcare Services Group in a research note on Friday, September 16th. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, William Blair downgraded shares of Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.33.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its position in Healthcare Services Group by 14.0% in the second quarter. Eqis Capital Management Inc. now owns 8,983 shares of the company’s stock valued at $372,000 after buying an additional 1,100 shares during the period. Capstone Asset Management Co. increased its position in Healthcare Services Group by 6.8% in the second quarter. Capstone Asset Management Co. now owns 25,085 shares of the company’s stock valued at $1,038,000 after buying an additional 1,600 shares during the period. BNP Paribas Arbitrage SA increased its position in Healthcare Services Group by 113.3% in the second quarter. BNP Paribas Arbitrage SA now owns 22,572 shares of the company’s stock valued at $934,000 after buying an additional 11,988 shares during the period. Avalon Advisors LLC purchased a new position in Healthcare Services Group during the first quarter valued at $868,000. Finally, Bellevue Group AG purchased a new position in Healthcare Services Group during the first quarter valued at $1,841,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.
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 the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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