Healthcare Services Group (NASDAQ:HCSG) Stock: Insider Jason Bundick Sells 18,239 Shares

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Jason Bundick sold 18,239 shares of Healthcare Services Group stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $25.11, for a total value of $457,981.29. Following the completion of the transaction, the executive vice president directly owned 17,125 shares in the company, valued at $430,008.75. This trade represents a 51.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $24.06 on Thursday. The company has a market capitalization of $1.65 billion, a P/E ratio of 16.15 and a beta of 0.81. Healthcare Services Group, Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $25.75. The stock has a 50 day moving average price of $21.91 and a two-hundred day moving average price of $21.33.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Healthcare Services Group had a net margin of 5.58% and a return on equity of 20.22%. The firm had revenue of $479.60 million for the quarter, compared to analysts’ expectations of $480.80 million. During the same quarter last year, the business earned $0.59 earnings per share. As a group, equities analysts predict that Healthcare Services Group, Inc. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HCSG shares. Oppenheimer assumed coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target on the stock. UBS Group boosted their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Robert W. Baird dropped their target price on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Finally, Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 25th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Healthcare Services Group has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Hedge Funds Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its position in Healthcare Services Group by 6.5% during the 3rd quarter. Sterling Capital Management LLC now owns 16,358 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 1,002 shares during the period. Nykredit A S bought a new position in Healthcare Services Group in the 2nd quarter worth $28,000. Nisa Investment Advisors LLC lifted its position in shares of Healthcare Services Group by 52.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,981 shares of the business services provider’s stock worth $102,000 after purchasing an additional 1,722 shares during the period. KBC Group NV purchased a new stake in shares of Healthcare Services Group in the 1st quarter worth about $35,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Healthcare Services Group by 9.7% in the 1st quarter. Sanctuary Advisors LLC now owns 22,098 shares of the business services provider’s stock worth $410,000 after purchasing an additional 1,947 shares during the period. Institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.