Key Points
- EVP Patrick Orr sold 45,500 shares on Feb 18 at an average price of $20.54 for about $934,570, cutting his direct stake by 50.49% to 44,615 shares.
- HCSG beat quarterly EPS estimates ($0.44 vs. $0.23) with revenue of $466.68M (up 6.6% YoY); the stock trades near $20.69, with a market cap of $1.45B and a P/E of 25.24.
- Institutional investors own roughly 97.97% of the stock, and Wall Street is split (four Buy, four Hold) with a consensus "Moderate Buy" rating and a $22 target price.
Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) EVP Patrick Orr sold 45,500 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.54, for a total transaction of $934,570.00. Following the sale, the executive vice president directly owned 44,615 shares of the company's stock, valued at $916,392.10. This represents a 50.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Healthcare Services Group Price Performance
Shares of HCSG stock traded up $0.47 on Friday, hitting $20.69. 259,998 shares of the company's stock were exchanged, compared to its average volume of 770,968. The company has a 50 day moving average of $19.42 and a 200 day moving average of $17.64. The stock has a market cap of $1.45 billion, a P/E ratio of 25.24 and a beta of 0.74. Healthcare Services Group, Inc. has a 12 month low of $9.13 and a 12 month high of $22.98.
Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in HCSG. Mercer Global Advisors Inc. ADV increased its holdings in Healthcare Services Group by 26.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,630 shares of the business services provider's stock worth $452,000 after purchasing an additional 4,906 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in Healthcare Services Group by 6.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 61,837 shares of the business services provider's stock worth $1,164,000 after acquiring an additional 3,923 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Healthcare Services Group during the fourth quarter valued at approximately $1,846,000. XTX Topco Ltd acquired a new position in shares of Healthcare Services Group during the fourth quarter worth approximately $609,000. Finally, Zacks Investment Management bought a new stake in Healthcare Services Group during the 4th quarter valued at $517,000. 97.97% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on HCSG. BMO Capital Markets restated a "market perform" rating and set a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Healthcare Services Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 14th. Macquarie Infrastructure restated a "buy" rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Finally, Benchmark reaffirmed a "buy" rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Healthcare Services Group has an average rating of "Moderate Buy" and a consensus target price of $22.00.
Get Our Latest Stock Analysis on HCSG
About Healthcare Services Group
(
Get Free Report)
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.
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