BidaskClub Downgrades Healthcare Services Group (NASDAQ:HCSG) to Sell

BidaskClub lowered shares of Healthcare Services Group (NASDAQ:HCSG) from a hold rating to a sell rating in a research report released on Thursday, January 4th.

Several other research firms have also issued reports on HCSG. Stifel Nicolaus reaffirmed a buy rating on shares of Healthcare Services Group in a research note on Thursday, October 19th. Zacks Investment Research lowered Healthcare Services Group from a buy rating to a hold rating in a research note on Tuesday, September 12th. Jefferies Group 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. Credit Suisse Group reaffirmed an outperform rating and issued a $62.00 price objective (up from $56.00) on shares of Healthcare Services Group in a research note on Friday, November 3rd. Finally, Robert W. Baird reiterated a buy rating and issued a $52.00 price target on shares of Healthcare Services Group in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $54.80.

Healthcare Services Group (HCSG) traded up $1.57 during trading hours on Thursday, hitting $56.01. The stock had a trading volume of 834,838 shares, compared to its average volume of 468,687. The company has a market cap of $4,220.00, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 3.42 and a beta of 0.62. Healthcare Services Group has a 1-year low of $37.54 and a 1-year high of $56.20.

In other news, insider Michael E. Mcbryan sold 22,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.03, for a total value of $1,193,175.00. Following the sale, the insider now directly owns 14,413 shares in the company, valued at $764,321.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael E. Mcbryan sold 800 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total value of $42,400.00. Following the completion of the sale, the executive vice president now owns 14,413 shares in the company, valued at $763,889. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. increased its holdings in Healthcare Services Group by 159.3% during the 4th quarter. Eqis Capital Management Inc. now owns 11,389 shares of the business services provider’s stock worth $600,000 after purchasing an additional 6,997 shares during the period. Assenagon Asset Management S.A. purchased a new position in Healthcare Services Group during the 4th quarter worth $8,667,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Healthcare Services Group during the 4th quarter worth $3,179,000. Legato Capital Management LLC increased its holdings in Healthcare Services Group by 192.0% during the 4th quarter. Legato Capital Management LLC now owns 53,510 shares of the business services provider’s stock worth $2,821,000 after purchasing an additional 35,186 shares during the period. Finally, American Capital Management Inc. increased its holdings in Healthcare Services Group by 3.4% during the 4th quarter. American Capital Management Inc. now owns 338,308 shares of the business services provider’s stock worth $17,836,000 after purchasing an additional 11,134 shares during the period. Institutional investors own 93.29% of the company’s stock.

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Healthcare Services Group Company 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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