Washington Capital Management Inc. Cuts Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Washington Capital Management Inc. lowered its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 20.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,000 shares of the business services provider’s stock after selling 3,013 shares during the period. Washington Capital Management Inc.’s holdings in Healthcare Services Group were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HCSG. Texas Permanent School Fund boosted its position in Healthcare Services Group by 1.1% in the second quarter. Texas Permanent School Fund now owns 53,290 shares of the business services provider’s stock worth $2,496,000 after buying an additional 573 shares in the last quarter. World Asset Management Inc bought a new position in Healthcare Services Group during the second quarter worth $225,000. Suffolk Capital Management LLC boosted its position in Healthcare Services Group by 30.8% in the second quarter. Suffolk Capital Management LLC now owns 40,769 shares of the business services provider’s stock worth $1,909,000 after buying an additional 9,590 shares in the last quarter. CIBC Asset Management Inc bought a new position in Healthcare Services Group during the second quarter worth $215,000. Finally, Great West Life Assurance Co. Can boosted its position in Healthcare Services Group by 3.7% in the second quarter. Great West Life Assurance Co. Can now owns 105,473 shares of the business services provider’s stock worth $4,936,000 after buying an additional 3,787 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Healthcare Services Group, Inc. (HCSG) opened at 50.62 on Friday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 44.40 and a beta of 0.61. Healthcare Services Group, Inc. has a 52 week low of $34.83 and a 52 week high of $54.28. The firm’s 50-day moving average is $51.02 and its 200 day moving average is $46.05.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities research analysts expect that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a $0.1888 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 annualized dividend and a yield of 1.49%. Healthcare Services Group’s payout ratio is 65.22%.

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A number of equities research analysts have recently issued reports on HCSG shares. Stifel Nicolaus upped their target price on shares of Healthcare Services Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, May 1st. BidaskClub lowered shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a report on Friday, July 7th. Finally, Credit Suisse Group initiated coverage on shares of Healthcare Services Group in a report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.00.

In other news, Director John Briggs sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $47.52, for a total transaction of $118,800.00. Following the completion of the sale, the director now owns 22,017 shares in the company, valued at approximately $1,046,247.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Frome sold 7,485 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $47.00, for a total value of $351,795.00. Following the sale, the director now owns 37,986 shares of the company’s stock, valued at approximately $1,785,342. The disclosure for this sale can be found here. Insiders sold a total of 49,235 shares of company stock valued at $2,494,065 in the last 90 days. 4.30% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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