Insider Selling: Healthcare Services Group (NASDAQ:HCSG) EVP Sells 44,615 Shares of Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Patrick Orr sold 44,615 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total value of $915,945.95. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Healthcare Services Group Price Performance

NASDAQ HCSG traded up $0.42 on Friday, reaching $20.64. The stock had a trading volume of 1,102,419 shares, compared to its average volume of 796,409. The firm has a fifty day moving average of $19.42 and a two-hundred day moving average of $17.64. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $22.98. The company has a market cap of $1.45 billion, a P/E ratio of 25.17 and a beta of 0.74.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. The company had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. Research analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

A number of hedge funds have recently made changes to their positions in HCSG. Royal Bank of Canada grew its holdings in shares of Healthcare Services Group by 3.7% during the 1st quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 4,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Healthcare Services Group by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock worth $441,000 after buying an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Healthcare Services Group during the first quarter worth $242,000. Jane Street Group LLC increased its holdings in shares of Healthcare Services Group by 962.0% during the first quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock worth $2,017,000 after buying an additional 181,242 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Healthcare Services Group by 49.8% in the 2nd quarter. CWM LLC now owns 24,634 shares of the business services provider’s stock valued at $370,000 after acquiring an additional 8,185 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HCSG shares. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. Wall Street Zen upgraded Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.