BlackRock Inc. lifted its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,215,506 shares of the business services provider’s stock after purchasing an additional 528,702 shares during the quarter. BlackRock Inc. owned about 11.14% of Healthcare Services Group worth $354,826,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Brookstone Capital Management acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth $203,000. Raymond James Trust N.A. acquired a new stake in shares of Healthcare Services Group in the 2nd quarter worth $203,000. Allianz Asset Management GmbH acquired a new stake in shares of Healthcare Services Group in the 1st quarter worth $212,000. Eqis Capital Management Inc. acquired a new stake in Healthcare Services Group during the 2nd quarter worth about $222,000. Finally, Natixis acquired a new stake in Healthcare Services Group during the 1st quarter worth about $246,000. 97.93% of the stock is owned by hedge funds and other institutional investors.
HCSG has been the subject of a number of research reports. Stifel Nicolaus cut Healthcare Services Group from a “hold” rating to a “sell” rating and lowered their price target for the stock from $44.00 to $35.00 in a research report on Wednesday, July 18th. Zacks Investment Research cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine raised Healthcare Services Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 6th. William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 6th. Finally, BidaskClub cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $47.00.
Shares of HCSG opened at $42.43 on Friday. Healthcare Services Group, Inc. has a one year low of $35.04 and a one year high of $56.20. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 35.83 and a beta of 0.83.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, July 17th. The business services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The firm had revenue of $503.70 million for the quarter, compared to analyst estimates of $508.78 million. Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. equities analysts forecast that Healthcare Services Group, Inc. will post 1.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 24th will be issued a $0.1938 dividend. This represents a $0.78 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, August 23rd. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is 64.71%.
In other news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total value of $124,961.64. Following the completion of the transaction, the director now owns 3,001 shares of the company’s stock, valued at approximately $124,961.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dino D. Ottaviano sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $41.05, for a total value of $47,207.50. Following the completion of the transaction, the director now directly owns 1,694 shares of the company’s stock, valued at approximately $69,538.70. The disclosure for this sale can be found here. 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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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