Andrew Kush Sells 15,598 Shares of Healthcare Services Group (NASDAQ:HCSG) Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) COO Andrew Kush sold 15,598 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares in the company, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Healthcare Services Group Stock Performance

HCSG traded down $0.31 during trading on Wednesday, reaching $22.84. The stock had a trading volume of 787,031 shares, compared to its average volume of 737,968. The business has a 50-day moving average of $22.99 and a 200-day moving average of $21.16. Healthcare Services Group, Inc. has a one year low of $13.69 and a one year high of $25.75. The stock has a market cap of $1.57 billion, a PE ratio of 13.28 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million for the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same period last year, the firm posted ($0.44) EPS. Equities research analysts forecast that Healthcare Services Group, Inc. will post 1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on HCSG shares. BMO Capital Markets increased their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Benchmark upped their price target on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group increased their target price on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Royal Bank Of Canada raised their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.20.

Institutional Trading of Healthcare Services Group

Institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in Healthcare Services Group by 454.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after purchasing an additional 1,152,176 shares during the period. Ameriprise Financial Inc. lifted its holdings in Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after buying an additional 882,213 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Healthcare Services Group by 1,116.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock worth $6,746,000 after buying an additional 411,908 shares during the period. Towle & Co. bought a new stake in shares of Healthcare Services Group in the 4th quarter worth approximately $7,396,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Healthcare Services Group during the second quarter valued at approximately $4,653,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.