Healthcare Services Group, Inc. (NASDAQ:HCSG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.70 and last traded at $32.70, with a volume of 258 shares traded. The stock had previously closed at $32.14.
A number of research firms have issued reports on HCSG. TheStreet upgraded shares of Healthcare Services Group from a “c+” rating to a “b” rating in a research report on Friday, January 8th. Credit Suisse Group cut their target price on shares of Healthcare Services Group from $31.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Finally, Zacks Investment Research downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.33.
The company has a fifty day moving average price of $26.62 and a two-hundred day moving average price of $24.13. The company has a market capitalization of $2.42 billion, a P/E ratio of 26.78 and a beta of 0.41.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. The firm had revenue of $435.95 million during the quarter, compared to the consensus estimate of $435.96 million. Healthcare Services Group had a return on equity of 19.82% and a net margin of 5.04%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Sell-side analysts expect that Healthcare Services Group, Inc. will post 1.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 24th. Shareholders of record on Friday, November 20th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, November 19th. This represents a $0.82 annualized dividend and a dividend yield of 2.53%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio (DPR) is presently 94.25%.
In other news, COO Andrew Kush sold 2,000 shares of the stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $23.54, for a total transaction of $47,080.00. Following the transaction, the chief operating officer now directly owns 10,188 shares in the company, valued at approximately $239,825.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Frome sold 5,001 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $22.34, for a total value of $111,722.34. Following the transaction, the director now owns 14,908 shares in the company, valued at $333,044.72. The disclosure for this sale can be found here. Insiders have sold a total of 22,301 shares of company stock worth $519,750 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Healthcare Services Group by 85.1% in the 2nd 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 during the period. Advisor Group Holdings Inc. increased its stake in Healthcare Services Group by 18.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 18,945 shares of the business services provider’s stock worth $464,000 after purchasing an additional 2,991 shares during the period. Stifel Financial Corp increased its stake in Healthcare Services Group by 4.1% in the 2nd quarter. Stifel Financial Corp now owns 109,721 shares of the business services provider’s stock worth $2,684,000 after purchasing an additional 4,331 shares during the period. Bank of America Corp DE increased its stake in Healthcare Services Group by 32.4% in the 2nd quarter. Bank of America Corp DE now owns 1,298,238 shares of the business services provider’s stock worth $31,755,000 after purchasing an additional 317,973 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Healthcare Services Group by 1,060.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 97,239 shares of the business services provider’s stock worth $2,378,000 after purchasing an additional 88,861 shares during the period. Institutional investors and hedge funds 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.
Further Reading: 52 Week Highs
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