Healthcare Services Group (NASDAQ:HCSG) EVP John Christopher Shea Sells 54,357 Shares of Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP John Christopher Shea sold 54,357 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the transaction, the executive vice president directly owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. This represents a 64.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Healthcare Services Group Stock Up 2.3%

Shares of HCSG traded up $0.47 during mid-day trading on Friday, hitting $20.69. The company had a trading volume of 259,998 shares, compared to its average volume of 770,968. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $22.98. The business’s 50-day simple moving average is $19.42 and its 200-day simple moving average is $17.64. The stock has a market cap of $1.45 billion, a PE ratio of 25.24 and a beta of 0.74.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. During the same quarter last year, the firm posted $0.16 earnings per share. Healthcare Services Group’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Macquarie Infrastructure restated a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Wall Street Zen upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Finally, BMO Capital Markets restated a “market perform” rating and set a $22.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Investors Weigh In On Healthcare Services Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. 8 Knots Management LLC bought a new position in shares of Healthcare Services Group during the third quarter worth about $56,527,000. Arrowstreet Capital Limited Partnership grew its position in Healthcare Services Group by 240.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock worth $22,497,000 after purchasing an additional 1,056,705 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Healthcare Services Group by 80.2% in the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after purchasing an additional 882,213 shares during the period. American Century Companies Inc. raised its holdings in shares of Healthcare Services Group by 183.0% during the second quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock valued at $19,223,000 after buying an additional 827,057 shares during the last quarter. Finally, CSM Advisors LLC acquired a new position in shares of Healthcare Services Group during the second quarter worth approximately $8,864,000. Institutional investors own 97.97% of the company’s stock.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.