Healthcare Services Group Inc. (HCSG) Sees Large Volume Increase
Healthcare Services Group Inc. (NASDAQ:HCSG) saw an uptick in trading volume on Thursday . 640,728 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 404,423 shares.The stock last traded at $38.30 and had previously closed at $39.05.
Several brokerages have issued reports on HCSG. Jefferies Group restated a “hold” rating and issued a $41.00 target price on shares of Healthcare Services Group in a report on Wednesday. Zacks Investment Research cut Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus upped their target price on Healthcare Services Group from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 13th.
The firm has a market cap of $2.78 billion and a price-to-earnings ratio of 43.97. The company’s 50-day moving average is $39.94 and its 200 day moving average is $36.84.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. During the same quarter in the prior year, the firm earned $0.23 EPS. The company had revenue of $386.56 million for the quarter, compared to analyst estimates of $392.26 million. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Healthcare Services Group Inc. will post $1.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 19th will be paid a dividend of $0.1838 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, August 17th. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.18.
In related news, Director Dino D. Ottaviano sold 1,000 shares of the business’s 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 transaction, the director now owns 1,237 shares in the company, valued at $47,983.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert J. Moss sold 7,485 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $40.00, for a total value of $299,400.00. Following the completion of the transaction, the director now owns 7,485 shares in the company, valued at approximately $299,400. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Brown Advisory Inc. boosted its position in Healthcare Services Group by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 1,019,012 shares of the company’s stock valued at $35,533,000 after buying an additional 9,975 shares during the period. Dimensional Fund Advisors LP boosted 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 during the period. Principal Financial Group Inc. boosted its position in Healthcare Services Group by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 483,950 shares of the company’s stock valued at $16,875,000 after buying an additional 21,457 shares during the period. OppenheimerFunds Inc. acquired a new position in Healthcare Services Group during the fourth quarter valued at approximately $12,804,000. Finally, California Public Employees Retirement System boosted its position in Healthcare Services Group by 5.3% in the fourth quarter. California Public Employees Retirement System now owns 311,800 shares of the company’s stock valued at $10,872,000 after buying an additional 15,600 shares during the period.
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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