Riverhead Capital Management LLC Acquires 18,720 Shares of Healthcare Services Group, Inc. (HCSG)

Riverhead Capital Management LLC raised its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 35.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,213 shares of the business services provider’s stock after buying an additional 18,720 shares during the period. Riverhead Capital Management LLC owned approximately 0.10% of Healthcare Services Group worth $2,893,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. MetLife Investment Advisors LLC raised its holdings in shares of Healthcare Services Group by 3.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 80,115 shares of the business services provider’s stock valued at $3,460,000 after purchasing an additional 2,325 shares in the last quarter. AMI Asset Management Corp raised its holdings in shares of Healthcare Services Group by 5.4% in the 3rd quarter. AMI Asset Management Corp now owns 854,408 shares of the business services provider’s stock valued at $34,706,000 after purchasing an additional 44,151 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Healthcare Services Group by 34.0% in the 2nd quarter. Stephens Inc. AR now owns 8,712 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 2,211 shares in the last quarter. Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Healthcare Services Group in the 2nd quarter valued at $634,000. Finally, Vident Investment Advisory LLC raised its holdings in shares of Healthcare Services Group by 101.0% in the 2nd quarter. Vident Investment Advisory LLC now owns 60,791 shares of the business services provider’s stock valued at $2,626,000 after purchasing an additional 30,554 shares in the last quarter.

In related news, Director Dino D. Ottaviano sold 700 shares of Healthcare Services Group stock in a transaction on Friday, November 30th. The shares were sold at an average price of $46.98, for a total transaction of $32,886.00. Following the sale, the director now directly owns 1,244 shares in the company, valued at approximately $58,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Moss sold 5,001 shares of Healthcare Services Group 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 sale, the director now owns 5,001 shares in the company, valued at $219,793.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,701 shares of company stock worth $347,780 over the last quarter. 1.00% of the stock is owned by company insiders.

Shares of NASDAQ:HCSG opened at $41.68 on Friday. Healthcare Services Group, Inc. has a 12 month low of $35.04 and a 12 month high of $56.20. The firm has a market cap of $3.07 billion, a P/E ratio of 42.91 and a beta of 0.73.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Tuesday, October 16th. The business services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $506.90 million for the quarter, compared to analyst estimates of $510.27 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. Healthcare Services Group’s revenue was up 3.2% compared to the same quarter last year. Analysts predict that Healthcare Services Group, Inc. will post 1.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 23rd will be paid a dividend of $0.195 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, November 21st. Healthcare Services Group’s dividend payout ratio (DPR) is currently 65.55%.

A number of equities research analysts have recently weighed in on HCSG shares. ValuEngine upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. BidaskClub upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Stephens started coverage on shares of Healthcare Services Group in a report on Tuesday, October 2nd. They issued an “overweight” rating on the stock. Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Jefferies Financial Group set a $53.00 price objective on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Healthcare Services Group currently has a consensus rating of “Buy” 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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