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

Key Points

• COO Andrew Kush sold 15,598 HCSG shares at an average price of $23.24, generating approximately $362,498. His remaining stake fell by 40.68% to 22,741 shares.
• Healthcare Services Group reported quarterly EPS of $0.32, beating analyst expectations of $0.22, while revenue of $470.81 million was slightly below estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $26.20; shares recently traded at $22.84, while institutional investors own 97.97% of the stock.

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares of the company's stock, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Healthcare Services Group Stock Performance

HCSG traded down $0.31 during trading hours on Wednesday, reaching $22.84. The company's stock had a trading volume of 787,031 shares, compared to its average volume of 737,968. The company's 50-day moving average is $22.99 and its 200-day moving average is $21.16. Healthcare Services Group, Inc. has a 52 week low of $13.69 and a 52 week high of $25.75. The firm 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 - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. The firm had revenue of $470.81 million during the quarter, compared to analysts' expectations of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same period in the previous year, the business posted ($0.44) earnings per share. Equities analysts anticipate that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Healthcare Services Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of 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 period. Dimensional Fund Advisors LP grew its stake in Healthcare Services Group by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider's stock valued at $44,534,000 after acquiring an additional 62,689 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Healthcare Services Group during the fourth quarter valued at approximately $1,008,000. Y Intercept Hong Kong Ltd increased its holdings in Healthcare Services Group by 616.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider's stock worth $1,377,000 after acquiring an additional 63,866 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Healthcare Services Group by 298.1% in the 4th quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider's stock worth $836,000 after purchasing an additional 32,752 shares in the last quarter. 97.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HCSG shares. Weiss Ratings raised Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. UBS Group upped 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 target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 23rd. Benchmark increased their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Finally, Zacks Research raised shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Healthcare Services Group presently has a consensus rating of "Moderate Buy" and an average price target of $26.20.

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.

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