Healthcare Services Group, Inc. (NASDAQ:HCSG) has been the object of insider selling activity recently. Robert L. Frome, Director disclosed the sale of 7,485 shares. The shares were sold on June 9th for an average price of $47.00. Frome now owns $1,433,547 of the stock per the Form 4 SEC filing. John Briggs, Director let go of $118,800 worth of shares at an average price of $47.52 on June 7th. The Director now owns $1,046,248 of the stock per an SEC filing yesterday.
Director Daniel P. Mccartney sold 113,901 shares at an average price of $45.87 on Thu the 11th. Mccartney now owns $90,282,389 of stock as recorded in a recent Form 4 SEC filing.
Healthcare Services Group, Inc., launched on November 22, 1976, provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States. The Company operates through two segments: housekeeping, laundry, linen and other services (Housekeeping), and dietary department services (Dietary). The Company provides its Housekeeping services to all of its client facilities and provides Dietary services to over 1,000 facilities. The Business’s programs include IntelliClean, Personal Select, Classics Cafe and Homestyle settings..
These firms have also modified their investment in HCSG. Goldman Sachs Group Inc grew its investment by buying 1,110,319 shares an increase of 12,091.0% as of 03/31/2017. Goldman Sachs Group Inc now holds 1,119,502 shares worth $48,239,000. The total value of its holdings increased 13,299.7%. As of quarter end Janus Capital Management LLC had sold a total of 13,964 shares trimming its holdings by 0.8%. The value of the company’s investment in Healthcare Services Group, Inc. increased from $66,840,000 to $72,928,000 a change of 9.1% for the reporting period.
Ranger Investment Management, L.p. cut its stake by shedding 30,490 shares a decrease of 68.6%. Ranger Investment Management, L.p. controls 13,980 shares valued at $602,000. The value of the position overall is down by 65.4%. As of the end of the quarter Hightower Advisors, LLC had disposed of 41,547 shares trimming its stake by 89.8%. The value of the total investment in Healthcare Services Group, Inc. went from $1,613,000 to $202,000 decreasing 87.5% quarter to quarter.
Equity analyst Baird initiated coverage on the stock with a rating of “Outperform”. October 14 investment analysts at Stifel Nicolaus held the company rating at “Buy” and moved up the price target to $39.00 from $38.00.
On July 28 Stifel Nicolaus made no change to the stock rating of “Buy” and lowered the price expectation from $38.00 to $37.00. March 25 investment analysts at Jefferies maintained a company rating of “Hold” but raised the price target from $31.50 to $33.00.
February 25 investment analysts at Stifel Nicolaus kept the company rating at “Buy” but moved up the price target to $37.00 from $34.00. February 4 investment analysts at Stifel Nicolaus held the stock rating at “Buy” but raised the price expectation from $31.00 to $34.00.
The company is up by 0.55% since yesterday’s close of $47.46. The company also declared a dividend for shareholders which will be paid on Friday the 23rd of June 2017. The dividend payment will be $0.188 per share for the quarter which is $0.75 annualized. This dividend amount will represent a yeild of $1.58. The ex-dividend date is Wednesday the 17th of May 2017.
Shares of the company are trading at $47.72 barely above the 50 day moving average of $46.63 and which is a tad above the 200 day moving average of $42.36. The 50 day moving average was up $1.09 or +2.34% whereas the 200 day moving average was up $5.36 or +12.65%.
The company currently has a P/E ratio of 43.78 and market cap is 3.48B. In the latest earnings report the EPS was $1.09 and is projected to be $1.21 for the current year with 72,988,000 shares currently outstanding. Next quarter’s EPS is expected be $0.31 and the next full year EPS is anticipated to be $1.36.
Traders are a little more bullish on Healthcare Services Group, Inc. of late if you take note of the motion in short interest. The stock recorded a fall in short interest of -7.02% between April 28, 2017 and May 15, 2017. Short shares decreased from 4,991,840 to 4,641,419 over that timeframe. The days to cover increased to 16.9 and the short interest percentage is 0.06% as of May 15.