Healthcare Services Group Inc. (HCSG) Sees Unusually-High Trading Volume
Healthcare Services Group Inc. (NASDAQ:HCSG) saw unusually-high trading volume on Wednesday . Approximately 549,997 shares changed hands during mid-day trading, an increase of 53% from the previous session’s volume of 358,795 shares.The stock last traded at $40.77 and had previously closed at $41.28.
HCSG has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Healthcare Services Group from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 13th. Jefferies Group reiterated a “hold” rating on shares of Healthcare Services Group in a report on Wednesday, April 13th. Finally, Zacks Investment Research upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th.
The company has a market capitalization of $2.95 billion and a P/E ratio of 48.54. The firm’s 50 day moving average price is $39.49 and its 200-day moving average price is $36.64.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, April 12th. The company reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. The firm had revenue of $384.80 million for the quarter. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. On average, equities research analysts expect that Healthcare Services Group Inc. will post $1.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, May 20th were given a dividend of $0.1825 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.79%.
In related news, Director Dino D. Ottaviano sold 1,000 shares of Healthcare Services Group stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $38.79, for a total value of $38,790.00. Following the completion of the transaction, the director now owns 1,237 shares in the company, valued at $47,983.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel P. Mccartney sold 100,000 shares of Healthcare Services Group stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $39.39, for a total value of $3,939,000.00. Following the completion of the transaction, the director now owns 2,157,244 shares of the company’s stock, valued at approximately $84,973,841.16. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. OppenheimerFunds Inc. bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $12,804,000. Dimensional Fund Advisors LP raised its position in Healthcare Services Group by 31.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,285 shares of the company’s stock valued at $25,884,000 after buying an additional 177,503 shares in the last quarter. WBI Investments Inc. bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $5,340,000. Schroder Investment Management Group bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $4,722,000. Finally, Lebenthal Lisanti Capital Growth LLC bought a new position in Healthcare Services Group during the fourth quarter valued at approximately $1,451,000.
Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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