Michael E. Mcbryan Sells 22,500 Shares of Healthcare Services Group, Inc. (HCSG) Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the sale, the insider now directly owns 32,542 shares of the company’s stock, valued at approximately $1,686,326.44. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded down 0.18% during trading on Friday, hitting $50.62. 301,423 shares of the stock traded hands. Healthcare Services Group, Inc. has a 52-week low of $34.83 and a 52-week high of $54.28. The firm has a market cap of $3.70 billion, a PE ratio of 44.40 and a beta of 0.61. The company’s 50 day moving average is $51.02 and its 200 day moving average is $46.05.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be paid a dividend of $0.1888 per share. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, August 16th. Healthcare Services Group’s payout ratio is currently 65.22%.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Healthcare Services Group by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock worth $126,000 after buying an additional 242 shares during the last quarter. LS Investment Advisors LLC boosted its position in Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after buying an additional 108 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Healthcare Services Group by 4.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after buying an additional 135 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in Healthcare Services Group during the second quarter worth approximately $170,000. Finally, Riverhead Capital Management LLC boosted its position in Healthcare Services Group by 69.1% in the second quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock worth $190,000 after buying an additional 1,659 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

HCSG has been the subject of several research reports. Jefferies Group LLC reaffirmed a “hold” rating and set 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 initiated 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 target for the company. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, July 14th. BidaskClub raised shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target (up previously from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $53.00.

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.

Insider Buying and Selling by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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