Liberty Capital Management Inc. lowered its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,227 shares of the business services provider’s stock after selling 3,329 shares during the period. Healthcare Services Group makes up about 2.2% of Liberty Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Liberty Capital Management Inc. owned 0.11% of Healthcare Services Group worth $3,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HCSG. HighTower Advisors LLC purchased a new stake in shares of Healthcare Services Group during the first quarter worth $202,000. Emerald Advisers Inc. PA purchased a new stake in shares of Healthcare Services Group during the first quarter worth $204,000. Harfst & Associates Inc. purchased a new stake in shares of Healthcare Services Group during the first quarter worth $206,000. Park National Corp OH purchased a new stake in shares of Healthcare Services Group during the first quarter worth $212,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Healthcare Services Group during the first quarter worth $213,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of Healthcare Services Group, Inc. (HCSG) opened at 51.88 on Tuesday. The firm has a market capitalization of $3.80 billion, a PE ratio of 45.51 and a beta of 0.61. The stock’s 50 day moving average is $49.61 and its 200 day moving average is $45.10. Healthcare Services Group, Inc. has a 52-week low of $34.83 and a 52-week high of $54.28.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The company had revenue of $470.90 million for the quarter, compared to analyst estimates of $425.24 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be paid a dividend of $0.1888 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. Healthcare Services Group’s payout ratio is presently 65.22%.

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HCSG has been the subject of several research reports. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective (up previously from $41.00) on shares of Healthcare Services Group in a research note on Tuesday, June 6th. Credit Suisse Group began coverage on shares of Healthcare Services Group in a research note on Friday, May 19th. They issued an “outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Robert W. Baird raised their price target on shares of Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $53.00.

In related news, Director Daniel P. Mccartney sold 113,901 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $45.87, for a total value of $5,224,638.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 163,136 shares of company stock worth $7,718,704 in the last 90 days. Insiders own 4.30% 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 of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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

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