Insider Selling: Healthcare Services Group (NASDAQ:HCSG) CAO Sells 2,490 Shares of Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) CAO Andrew Brophy sold 2,490 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the transaction, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Healthcare Services Group Trading Up 0.8%

Shares of NASDAQ:HCSG traded up $0.18 during trading on Thursday, hitting $21.76. 651,199 shares of the stock were exchanged, compared to its average volume of 803,092. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $22.98. The company has a market cap of $1.53 billion, a PE ratio of 26.54 and a beta of 0.74. The company has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $17.87.

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, beating the consensus estimate of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to analyst estimates of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.Healthcare Services Group’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Several hedge funds and other institutional investors have recently modified their holdings of HCSG. Cetera Investment Advisers lifted its holdings in Healthcare Services Group by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock worth $269,000 after buying an additional 581 shares during the last quarter. Trail Ridge Investment Advisors LLC boosted its holdings in Healthcare Services Group by 2.6% in the third quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock worth $409,000 after purchasing an additional 609 shares during the period. Amalgamated Bank increased its stake in Healthcare Services Group by 3.4% during the third quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 719 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Healthcare Services Group by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after buying an additional 738 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Healthcare Services Group by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after buying an additional 845 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Robert W. Baird set a $23.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. UBS Group set a $25.00 target price on shares of Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group currently has an average rating of “Moderate Buy” and an average price target of $22.00.

About Healthcare Services Group

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.