Meadow Creek Investment Management LLC decreased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,938 shares of the business services provider’s stock after selling 34,918 shares during the quarter. Meadow Creek Investment Management LLC owned 0.10% of Healthcare Services Group worth $3,687,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Healthcare Services Group by 2.4% in the 4th quarter. Swiss National Bank now owns 124,663 shares of the business services provider’s stock valued at $6,572,000 after purchasing an additional 2,900 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Healthcare Services Group by 2.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 779,780 shares of the business services provider’s stock valued at $41,110,000 after purchasing an additional 15,500 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Healthcare Services Group in the third quarter valued at about $360,000. Russell Investments Group Ltd. increased its position in shares of Healthcare Services Group by 23.9% in the third quarter. Russell Investments Group Ltd. now owns 474,299 shares of the business services provider’s stock valued at $25,598,000 after acquiring an additional 91,418 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Healthcare Services Group by 949.3% in the third quarter. Public Employees Retirement System of Ohio now owns 31,532 shares of the business services provider’s stock valued at $1,702,000 after acquiring an additional 28,527 shares during the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert J. Moss sold 2,000 shares of Healthcare Services Group stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $44.50, for a total transaction of $89,000.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $89,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dino D. Ottaviano sold 1,500 shares of Healthcare Services Group stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $45.15, for a total value of $67,725.00. Following the transaction, the director now owns 2,044 shares of the company’s stock, valued at approximately $92,286.60. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
Shares of NASDAQ:HCSG traded down $0.92 during midday trading on Friday, reaching $42.53. The company had a trading volume of 911,616 shares, compared to its average volume of 980,006. The company has a market cap of $3,133.57, a P/E ratio of 35.74, a P/E/G ratio of 2.31 and a beta of 0.79. Healthcare Services Group, Inc. has a 1-year low of $41.05 and a 1-year high of $56.20.
Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, February 6th. The business services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). Healthcare Services Group had a return on equity of 23.17% and a net margin of 4.73%. The business had revenue of $499.41 million for the quarter, compared to the consensus estimate of $499.37 million. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. research analysts anticipate that Healthcare Services Group, Inc. will post 1.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, February 16th were issued a dividend of $0.1913 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.77 dividend on an annualized basis and a yield of 1.80%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is presently 63.87%.
A number of research firms recently issued reports on HCSG. BidaskClub downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Robert W. Baird downgraded Healthcare Services Group from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Wednesday, February 7th. Finally, Zacks Investment Research downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.20.
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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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