Healthcare Services Group Inc. (NASDAQ:HCSG)’s share price dropped 5.6% on Wednesday . The stock traded as low as $39.26 and last traded at $39.58, with a volume of 601,300 shares trading hands. The stock had previously closed at $41.94.

HCSG has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Healthcare Services Group from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 13th. Jefferies Group reaffirmed a “hold” rating on shares of Healthcare Services Group in a research note on Wednesday, April 13th. Finally, Zacks Investment Research raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th.

The stock has a 50 day moving average of $39.94 and a 200-day moving average of $36.81. The stock has a market cap of $2.83 billion and a PE ratio of 46.49.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, July 12th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. The firm had revenue of $386.56 million for the quarter, compared to analyst estimates of $392.26 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Healthcare Services Group Inc. will post $1.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be issued a dividend of $0.1838 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.88%.

In other Healthcare Services Group news, Director Robert J. Moss sold 7,485 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $40.00, for a total value of $299,400.00. Following the transaction, the director now owns 7,485 shares in the company, valued at approximately $299,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Briggs sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $39.25, for a total transaction of $145,225.00. Following the completion of the transaction, the director now owns 21,882 shares in the company, valued at approximately $858,868.50. 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 stock. OppenheimerFunds Inc. bought a new position in Healthcare Services Group during the fourth quarter valued at $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 $5,340,000. Schroder Investment Management Group bought a new position in Healthcare Services Group during the fourth quarter valued at $4,722,000. Finally, Nationwide Fund Advisors raised its position in Healthcare Services Group by 14.5% in the fourth quarter. Nationwide Fund Advisors now owns 267,933 shares of the company’s stock valued at $9,343,000 after buying an additional 33,877 shares in the last quarter.

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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