Healthcare Services Group (NASDAQ:HCSG) EVP Jason Bundick Sells 18,239 Shares of Company Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Jason Bundick sold 18,239 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $25.11, for a total value of $457,981.29. Following the sale, the executive vice president directly owned 17,125 shares in the company, valued at $430,008.75. This trade represents a 51.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $24.37 on Wednesday. Healthcare Services Group, Inc. has a one year low of $16.78 and a one year high of $25.75. The stock has a 50-day moving average of $21.87 and a 200 day moving average of $21.31. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.36 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $479.60 million for the quarter, compared to the consensus estimate of $480.80 million. During the same quarter in the prior year, the company posted $0.59 EPS. On average, equities analysts predict that Healthcare Services Group, Inc. will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Healthcare Services Group

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in Healthcare Services Group during the second quarter valued at approximately $3,661,000. Meros Investment Management LP purchased a new stake in Healthcare Services Group during the second quarter valued at approximately $7,112,502. Empowered Funds LLC increased its holdings in Healthcare Services Group by 123.6% during the first quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock valued at $4,004,000 after buying an additional 119,290 shares during the last quarter. Legal & General Group Plc bought a new position in Healthcare Services Group in the second quarter worth approximately $4,169,000. Finally, Bank of New York Mellon Corp bought a new position in Healthcare Services Group in the second quarter worth approximately $10,438,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HCSG shares. Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 25th. Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Oppenheimer began coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 target price for the company. Robert W. Baird decreased their target price on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, UBS Group increased their price target on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.67.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company’s principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.