Redmond Asset Management LLC grew its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,325 shares of the business services provider’s stock after acquiring an additional 2,297 shares during the period. Healthcare Services Group accounts for approximately 1.2% of Redmond Asset Management LLC’s holdings, making the stock its 20th largest position. Redmond Asset Management LLC owned about 0.13% of Healthcare Services Group worth $2,860,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of Healthcare Services Group by 3.9% during the 1st quarter. SG Americas Securities LLC now owns 12,683 shares of the business services provider’s stock worth $418,000 after buying an additional 479 shares during the period. Boston Partners acquired a new position in Healthcare Services Group during the 1st quarter valued at $638,000. William Blair Investment Management LLC raised its stake in Healthcare Services Group by 0.8% during the 1st quarter. William Blair Investment Management LLC now owns 4,203,079 shares of the business services provider’s stock valued at $138,660,000 after purchasing an additional 34,862 shares during the last quarter. Strs Ohio raised its stake in Healthcare Services Group by 3.5% during the 1st quarter. Strs Ohio now owns 132,800 shares of the business services provider’s stock valued at $4,381,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Healthcare Services Group by 13.0% during the 1st quarter. Jennison Associates LLC now owns 557,303 shares of the business services provider’s stock valued at $18,385,000 after purchasing an additional 64,196 shares during the last quarter.
Several research firms recently commented on HCSG. ValuEngine cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 22nd. BidaskClub cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 26th. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, June 27th. Zacks Investment Research cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Finally, Stephens set a $42.00 price objective on shares of Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.29.
Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The firm had revenue of $462.10 million for the quarter, compared to analyst estimates of $477.68 million. Healthcare Services Group had a return on equity of 19.40% and a net margin of 4.38%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. Sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be given a dividend of $0.199 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s dividend payout ratio (DPR) is 70.54%.
In related news, Director Robert L. Frome sold 7,502 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total transaction of $244,865.28. Following the completion of the sale, the director now owns 18,407 shares in the company, valued at approximately $600,804.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.
About Healthcare Services Group
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. It operates through two segments, Housekeeping and Dietary.
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