Dimensional Fund Advisors LP raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,165,805 shares of the business services provider’s stock after acquiring an additional 27,427 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.59% of Healthcare Services Group worth $54,595,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Healthcare Services Group by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 242 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Healthcare Services Group by 4.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 108 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in Healthcare Services Group in the 2nd quarter worth $170,000. Riverhead Capital Management LLC raised its stake in Healthcare Services Group by 69.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock worth $190,000 after acquiring an additional 1,659 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Healthcare Services Group in the 1st quarter worth $202,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.
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HCSG has been the subject of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, July 14th. BidaskClub lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Robert W. Baird reiterated a “buy” rating and set a $52.00 price objective on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC set a $52.00 price objective on Healthcare Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $53.60.
Shares of Healthcare Services Group, Inc. (HCSG) opened at 52.93 on Friday. The company has a 50-day moving average price of $52.97 and a 200 day moving average price of $49.72. The firm has a market capitalization of $3.89 billion, a PE ratio of 44.48 and a beta of 0.62. Healthcare Services Group, Inc. has a 12-month low of $34.83 and a 12-month high of $55.68.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Healthcare Services Group had a net margin of 5.00% and a return on equity of 24.17%. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate of $485.53 million. During the same period in the previous year, the firm earned $0.27 EPS. Healthcare Services Group’s revenue was up 25.1% on a year-over-year basis. On average, equities analysts expect that Healthcare Services Group, Inc. will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, November 17th will be issued a $0.19 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 16th. Healthcare Services Group’s payout ratio is presently 63.03%.
In other Healthcare Services Group news, CFO John Christopher Shea sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $52.00, for a total value of $247,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,157 shares of the company’s stock, valued at $372,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Briggs sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $50.75, for a total transaction of $126,875.00. Following the completion of the sale, the director now directly owns 18,579 shares of the company’s stock, valued at $942,884.25. The disclosure for this sale can be found here. Insiders sold a total of 29,750 shares of company stock worth $1,539,825 over the last quarter. Insiders own 4.30% of the company’s stock.
Healthcare Services Group Profile
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.
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