Riverhead Capital Management LLC Has $2.89 Million Stake in Healthcare Services Group, Inc. (HCSG)

Riverhead Capital Management LLC increased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 35.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 71,213 shares of the business services provider’s stock after acquiring an additional 18,720 shares during the period. Riverhead Capital Management LLC’s holdings in Healthcare Services Group were worth $2,893,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in Healthcare Services Group by 2.8% during the second quarter. Arizona State Retirement System now owns 51,177 shares of the business services provider’s stock worth $2,210,000 after buying an additional 1,377 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Healthcare Services Group by 3.6% during the second quarter. Metropolitan Life Insurance Co. NY now owns 43,136 shares of the business services provider’s stock worth $1,863,000 after buying an additional 1,494 shares in the last quarter. Bank of Montreal Can boosted its holdings in Healthcare Services Group by 15.1% during the second quarter. Bank of Montreal Can now owns 12,402 shares of the business services provider’s stock worth $536,000 after buying an additional 1,630 shares in the last quarter. Carillon Tower Advisers Inc. boosted its holdings in Healthcare Services Group by 2.0% during the third quarter. Carillon Tower Advisers Inc. now owns 87,514 shares of the business services provider’s stock worth $3,555,000 after buying an additional 1,728 shares in the last quarter. Finally, Redmond Asset Management LLC boosted its holdings in Healthcare Services Group by 2.2% during the third quarter. Redmond Asset Management LLC now owns 87,090 shares of the business services provider’s stock worth $3,538,000 after buying an additional 1,835 shares in the last quarter.

Shares of HCSG opened at $41.68 on Friday. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 42.91 and a beta of 0.73. Healthcare Services Group, Inc. has a 12-month low of $35.04 and a 12-month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, October 16th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $506.90 million for the quarter, compared to analyst estimates of $510.27 million. Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities analysts expect that Healthcare Services Group, Inc. will post 1.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 23rd will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Wednesday, November 21st. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is currently 65.55%.

A number of equities analysts have issued reports on HCSG shares. BidaskClub upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 24th. Berenberg Bank started coverage on shares of Healthcare Services Group in a research report on Thursday, October 4th. They set a “hold” rating and a $40.00 target price for the company. ValuEngine upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, Stephens started coverage on shares of Healthcare Services Group in a research report on Tuesday, October 2nd. They set an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.00.

In other news, Director Robert J. Moss sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $47.55, for a total value of $95,100.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $95,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Moss sold 5,001 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $43.95, for a total transaction of $219,793.95. Following the completion of the transaction, the director now directly owns 5,001 shares of the company’s stock, valued at approximately $219,793.95. The disclosure for this sale can be found here. In the last three months, insiders sold 7,701 shares of company stock valued at $347,780. Company insiders own 1.00% 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 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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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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