AMI Asset Management Corp reduced its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 735,112 shares of the business services provider’s stock after selling 24,253 shares during the quarter. Healthcare Services Group accounts for 2.7% of AMI Asset Management Corp’s investment portfolio, making the stock its 8th largest position. AMI Asset Management Corp owned 1.00% of Healthcare Services Group worth $38,755,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Healthcare Services Group by 173.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock worth $97,658,000 after buying an additional 1,322,948 shares during the period. Atlantic Trust Group LLC purchased a new stake in Healthcare Services Group during the 3rd quarter worth approximately $39,425,000. Wasatch Advisors Inc. increased its stake in Healthcare Services Group by 24.1% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,248,276 shares of the business services provider’s stock worth $67,369,000 after buying an additional 242,741 shares during the period. Vanguard Group Inc. increased its stake in Healthcare Services Group by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,956,281 shares of the business services provider’s stock worth $325,763,000 after buying an additional 123,503 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Healthcare Services Group by 23.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 474,299 shares of the business services provider’s stock worth $25,598,000 after buying an additional 91,418 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded up $0.23 during trading hours on Tuesday, hitting $52.15. 376,251 shares of the company’s stock were exchanged, compared to its average volume of 421,200. Healthcare Services Group, Inc. has a 52 week low of $37.54 and a 52 week high of $55.68. The stock has a market cap of $3,804.33, a P/E ratio of 43.82, a PEG ratio of 3.26 and a beta of 0.62.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting the Zacks’ consensus estimate 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 prior year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. analysts expect that Healthcare Services Group, Inc. will post 1.24 earnings per share for the current year.
HCSG has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and set a $52.00 target price on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, October 19th. BidaskClub raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Healthcare Services Group in a research report on Friday, November 3rd. Finally, Jefferies Group reissued a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $54.80.
In related news, EVP Michael E. Mcbryan sold 800 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.00, for a total value of $42,400.00. Following the transaction, the executive vice president now directly owns 14,413 shares of the company’s stock, valued at approximately $763,889. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.03, for a total transaction of $1,193,175.00. Following the completion of the transaction, the insider now directly owns 14,413 shares in the company, valued at $764,321.39. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
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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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