Robert L. Frome Sells 8,500 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock

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Healthcare Services Group, Inc. (NASDAQ:HCSG) Director Robert L. Frome sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $24.06, for a total value of $204,510.00. Following the completion of the transaction, the director now directly owns 9,907 shares in the company, valued at $238,362.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ:HCSG traded up $0.07 during mid-day trading on Friday, hitting $25.70. The company had a trading volume of 1,383,619 shares, compared to its average volume of 934,672. The business has a fifty day simple moving average of $23.07 and a 200-day simple moving average of $30.35. Healthcare Services Group, Inc. has a 1 year low of $21.16 and a 1 year high of $48.73. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 22.95 and a beta of 0.71.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.11). Healthcare Services Group had a return on equity of 19.40% and a net margin of 4.38%. The business had revenue of $462.10 million for the quarter, compared to analysts’ expectations of $477.68 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.199 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 22nd. Healthcare Services Group’s payout ratio is presently 71.43%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Healthcare Services Group by 1.5% during the second quarter. Arizona State Retirement System now owns 53,762 shares of the business services provider’s stock worth $1,630,000 after acquiring an additional 771 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Healthcare Services Group by 6.9% during the second quarter. Janney Montgomery Scott LLC now owns 11,621 shares of the business services provider’s stock worth $352,000 after acquiring an additional 752 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Healthcare Services Group by 3.9% during the first quarter. SG Americas Securities LLC now owns 12,683 shares of the business services provider’s stock worth $418,000 after acquiring an additional 479 shares during the last quarter. Boston Partners purchased a new stake in shares of Healthcare Services Group during the first quarter worth about $638,000. Finally, William Blair Investment Management LLC increased its position in shares of Healthcare Services Group by 0.8% during the first quarter. William Blair Investment Management LLC now owns 4,203,079 shares of the business services provider’s stock worth $138,660,000 after acquiring an additional 34,862 shares during the last quarter.

HCSG has been the topic of several research reports. Credit Suisse Group cut their price objective on Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, June 27th. Sidoti cut their price objective on Healthcare Services Group from $51.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Finally, BidaskClub raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.29.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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