Van Berkom & Associates Inc. Buys New Stake in Healthcare Services Group, Inc. (HCSG)

Share on StockTwits

Van Berkom & Associates Inc. bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 292,404 shares of the business services provider’s stock, valued at approximately $12,629,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HCSG. Keybank National Association OH acquired a new position in shares of Healthcare Services Group during the second quarter worth about $484,000. US Bancorp DE grew its position in shares of Healthcare Services Group by 10.3% during the second quarter. US Bancorp DE now owns 70,414 shares of the business services provider’s stock worth $3,041,000 after buying an additional 6,560 shares in the last quarter. American Century Companies Inc. grew its position in shares of Healthcare Services Group by 60.4% during the second quarter. American Century Companies Inc. now owns 248,780 shares of the business services provider’s stock worth $10,745,000 after buying an additional 93,670 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Healthcare Services Group by 36.3% during the second quarter. Segall Bryant & Hamill LLC now owns 1,062,475 shares of the business services provider’s stock worth $45,888,000 after buying an additional 283,126 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Healthcare Services Group by 12.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 526,183 shares of the business services provider’s stock worth $22,726,000 after buying an additional 57,528 shares in the last quarter. 97.93% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on HCSG shares. Stifel Nicolaus downgraded Healthcare Services Group from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $44.00 to $35.00 in a research report on Wednesday, July 18th. BidaskClub raised Healthcare Services Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 24th. ValuEngine downgraded Healthcare Services Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 1st. Finally, William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $47.00.

In related news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $41.61, for a total transaction of $124,871.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dino D. Ottaviano sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $41.05, for a total value of $47,207.50. Following the sale, the director now owns 1,694 shares of the company’s stock, valued at approximately $69,538.70. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

HCSG stock opened at $41.74 on Wednesday. The company has a market cap of $3.04 billion, a P/E ratio of 35.08 and a beta of 0.82. Healthcare Services Group, Inc. has a fifty-two week low of $35.04 and a fifty-two week high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 17th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $503.70 million for the quarter, compared to analysts’ expectations of $508.78 million. Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. Healthcare Services Group’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. analysts forecast that Healthcare Services Group, Inc. will post 1.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 24th will be paid a dividend of $0.1938 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $0.78 annualized dividend and a yield of 1.86%. Healthcare Services Group’s payout ratio is presently 64.71%.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

Recommended Story: Penny Stocks

Want to see what other hedge funds are holding HCSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Healthcare Services Group, Inc. (NASDAQ:HCSG).

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

Receive News & Ratings for Healthcare Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthcare Services Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply