Fmr LLC Buys Shares of 2,230,020 Healthcare Services Group, Inc. (HCSG)

Fmr LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,230,020 shares of the business services provider’s stock, valued at approximately $96,315,000. Fmr LLC owned about 3.02% of Healthcare Services Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HCSG. Raymond James Trust N.A. acquired a new position in Healthcare Services Group during the second quarter valued at approximately $203,000. Brookstone Capital Management acquired a new position in Healthcare Services Group during the second quarter valued at approximately $203,000. Allianz Asset Management GmbH acquired a new position in Healthcare Services Group during the first quarter valued at approximately $212,000. Signature Financial Management Inc. acquired a new position in Healthcare Services Group during the second quarter valued at approximately $216,000. Finally, Eqis Capital Management Inc. acquired a new position in Healthcare Services Group during the second quarter valued at approximately $222,000.

In other news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $41.64, for a total transaction of $124,961.64. Following the transaction, the director now directly owns 3,001 shares of the company’s stock, valued at $124,961.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert J. Moss sold 5,001 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $43.95, for a total transaction of $219,793.95. Following the transaction, the director now directly owns 5,001 shares in the company, valued at $219,793.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,152 shares of company stock worth $391,963. Corporate insiders own 1.00% of the company’s stock.

NASDAQ HCSG opened at $44.11 on Friday. Healthcare Services Group, Inc. has a 52 week low of $35.04 and a 52 week high of $56.20. The firm has a market cap of $3.26 billion, a PE ratio of 45.61 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, October 16th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The firm had revenue of $506.90 million for the quarter, compared to analyst estimates of $510.27 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts anticipate that Healthcare Services Group, Inc. will post 1.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.195 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 21st. Healthcare Services Group’s payout ratio is presently 64.71%.

HCSG has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on shares of Healthcare Services Group in a research report on Thursday, October 4th. They set a “hold” rating and a $40.00 price target on the stock. Stephens initiated coverage on shares of Healthcare Services Group in a research report on Tuesday, October 2nd. They set an “overweight” rating on the stock. Zacks Investment Research cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Jefferies Financial Group set a $53.00 price target on shares of Healthcare Services Group and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, Stifel Nicolaus cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating and reduced their price target for the company from $44.00 to $35.00 in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.00.

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Healthcare Services Group Company Profile

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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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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