HighTower Advisors LLC Purchases New Stake in Healthcare Services Group, Inc. (HCSG)

HighTower Advisors LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,706 shares of the business services provider’s stock, valued at approximately $202,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Healthcare Services Group during the fourth quarter worth about $22,959,000. Teachers Advisors LLC raised its stake in shares of Healthcare Services Group by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 112,155 shares of the business services provider’s stock worth $4,393,000 after buying an additional 2,514 shares during the last quarter. Park National Corp OH acquired a new stake in shares of Healthcare Services Group during the first quarter worth about $212,000. Foundry Partners LLC raised its stake in shares of Healthcare Services Group by 18.2% in the first quarter. Foundry Partners LLC now owns 101,148 shares of the business services provider’s stock worth $4,358,000 after buying an additional 15,575 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Healthcare Services Group during the first quarter worth about $223,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded down 0.18% during trading on Friday, reaching $50.62. The company’s stock had a trading volume of 301,423 shares. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 44.40 and a beta of 0.61. Healthcare Services Group, Inc. has a 1-year low of $34.83 and a 1-year high of $54.28. The company’s 50-day moving average price is $51.02 and its 200 day moving average price is $46.05.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $470.90 million during the quarter, compared to analyst estimates of $425.24 million. Healthcare Services Group had a net margin of 5.07% and a return on equity of 24.12%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. Analysts anticipate that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be issued a dividend of $0.1888 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 65.22%.

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HCSG has been the subject of several research analyst reports. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective (up from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Credit Suisse Group initiated coverage on Healthcare Services Group in a report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price objective for the company. Zacks Investment Research raised 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. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up from $48.00) on shares of Healthcare Services Group in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Healthcare Services Group has a consensus rating of “Buy” and a consensus price target of $53.00.

In other news, Director Robert J. Moss sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $52.76, for a total transaction of $105,520.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $105,520. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael E. Mcbryan sold 22,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the sale, the insider now directly owns 32,542 shares of the company’s stock, valued at approximately $1,686,326.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,235 shares of company stock valued at $2,494,065. Company insiders own 4.30% of the company’s stock.

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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