Millennium Management LLC grew its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1,729.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,271 shares of the business services provider’s stock after buying an additional 324,509 shares during the period. Millennium Management LLC owned 0.47% of Healthcare Services Group worth $14,925,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of HCSG. First Trust Advisors LP lifted its position in shares of Healthcare Services Group by 62.5% during the 4th quarter. First Trust Advisors LP now owns 79,638 shares of the business services provider’s stock valued at $4,199,000 after buying an additional 30,616 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Healthcare Services Group by 39.3% in the 4th quarter. Wells Fargo & Company MN now owns 434,508 shares of the business services provider’s stock worth $22,908,000 after purchasing an additional 122,563 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Healthcare Services Group by 11.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 50,516 shares of the business services provider’s stock worth $2,663,000 after purchasing an additional 5,073 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Healthcare Services Group by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 644,509 shares of the business services provider’s stock worth $33,978,000 after purchasing an additional 8,735 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in Healthcare Services Group in the 4th quarter worth approximately $230,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
HCSG has been the topic of a number of research analyst reports. Zacks Investment Research cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Robert W. Baird lowered their price target on Healthcare Services Group from $50.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, April 17th. Stifel Nicolaus cut Healthcare Services Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $44.00 in a report on Wednesday, April 18th. Credit Suisse Group lowered their price target on Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, April 18th. Finally, Jefferies Financial Group set a $40.00 price target on Healthcare Services Group and gave the stock a “hold” rating in a report on Tuesday, April 17th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.50.
In other news, Director Robert J. Moss sold 3,001 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $41.61, for a total transaction of $124,871.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
Shares of HCSG opened at $43.73 on Friday. The company has a market cap of $3.19 billion, a PE ratio of 36.75, a PEG ratio of 2.56 and a beta of 0.84. Healthcare Services Group, Inc. has a 1 year low of $35.04 and a 1 year high of $56.20.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, April 17th. The business services provider reported $0.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.38). The firm had revenue of $501.81 million for the quarter, compared to analysts’ expectations of $505.44 million. Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The firm’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. equities research analysts predict that Healthcare Services Group, Inc. will post 1.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, May 25th were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 1.76%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, May 24th. Healthcare Services Group’s dividend payout ratio is 64.71%.
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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