Healthcare Services Group (NASDAQ:HCSG) Sets New 12-Month High at $32.70

Healthcare Services Group, Inc. (NASDAQ:HCSG) shares hit a new 52-week high on Thursday . The stock traded as high as $32.70 and last traded at $32.70, with a volume of 258 shares trading hands. The stock had previously closed at $32.14.

Several equities analysts recently weighed in on the stock. TheStreet raised shares of Healthcare Services Group from a “c+” rating to a “b” rating in a research report on Friday, January 8th. Credit Suisse Group lowered their price objective on Healthcare Services Group from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Finally, Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Healthcare Services Group has a consensus rating of “Hold” and a consensus target price of $26.33.

The firm has a fifty day simple moving average of $26.62 and a two-hundred day simple moving average of $24.13. The firm has a market cap of $2.42 billion, a PE ratio of 26.78 and a beta of 0.41.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.10. Healthcare Services Group had a return on equity of 19.82% and a net margin of 5.04%. The business had revenue of $435.95 million during the quarter, compared to analysts’ expectations of $435.96 million. During the same quarter last year, the business posted $0.25 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Healthcare Services Group, Inc. will post 1.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 24th. Stockholders of record on Friday, November 20th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.53%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, November 19th. Healthcare Services Group’s payout ratio is presently 94.25%.

In related news, Director Robert L. Frome sold 5,001 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $22.34, for a total value of $111,722.34. Following the sale, the director now directly owns 14,908 shares in the company, valued at $333,044.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew Kush sold 2,000 shares of the business’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $23.54, for a total value of $47,080.00. Following the completion of the sale, the chief operating officer now owns 10,188 shares in the company, valued at $239,825.52. The disclosure for this sale can be found here. Insiders sold 22,301 shares of company stock worth $519,750 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in shares of Healthcare Services Group by 85.1% during the second quarter. Bank of Montreal Can now owns 22,905 shares of the business services provider’s stock worth $545,000 after purchasing an additional 10,528 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Healthcare Services Group by 18.7% during the second quarter. Advisor Group Holdings Inc. now owns 18,945 shares of the business services provider’s stock valued at $464,000 after purchasing an additional 2,991 shares in the last quarter. Stifel Financial Corp grew its position in Healthcare Services Group by 4.1% during the second quarter. Stifel Financial Corp now owns 109,721 shares of the business services provider’s stock valued at $2,684,000 after purchasing an additional 4,331 shares in the last quarter. Bank of America Corp DE grew its position in Healthcare Services Group by 32.4% during the second quarter. Bank of America Corp DE now owns 1,298,238 shares of the business services provider’s stock valued at $31,755,000 after purchasing an additional 317,973 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Healthcare Services Group by 1,060.6% during the second quarter. Cubist Systematic Strategies LLC now owns 97,239 shares of the business services provider’s stock valued at $2,378,000 after purchasing an additional 88,861 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Healthcare Services Group Company Profile (NASDAQ:HCSG)

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. The company operates through two segments, Housekeeping and Dietary.

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