74,071 Shares in Healthcare Services Group, Inc. $HCSG Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 74,071 shares of Healthcare Services Group during the second quarter, worth approximately $1.82 million. Institutional investors collectively own nearly 98% of the company.
• HCSG reported quarterly EPS of $0.32, exceeding the $0.22 consensus estimate, while revenue of $470.81 million was roughly in line with expectations.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $26.50 price target, although COO Andrew Kush sold 15,598 shares in August.

Deutsche Bank AG bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 74,071 shares of the business services provider's stock, valued at approximately $1,819,000. Deutsche Bank AG owned approximately 0.11% of Healthcare Services Group as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of HCSG. EverSource Wealth Advisors LLC boosted its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider's stock worth $33,000 after purchasing an additional 1,356 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Healthcare Services Group during the fourth quarter valued at $33,000. KBC Group NV acquired a new stake in shares of Healthcare Services Group in the 1st quarter worth about $35,000. Farther Finance Advisors LLC increased its holdings in shares of Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider's stock worth $69,000 after acquiring an additional 877 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Healthcare Services Group by 600.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider's stock valued at $154,000 after purchasing an additional 8,795 shares during the last quarter. Institutional investors own 97.97% of the company's stock.

Healthcare Services Group Trading Down 2.2%

Shares of NASDAQ HCSG opened at $22.44 on Friday. Healthcare Services Group, Inc. has a twelve month low of $15.13 and a twelve month high of $25.75. The firm has a 50-day moving average of $23.32 and a two-hundred day moving average of $21.54. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 13.05 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The company had revenue of $470.81 million for the quarter, compared to analysts' expectations of $471.22 million. During the same quarter in the previous year, the company posted ($0.44) EPS. As a group, research analysts predict that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

Insider Activity at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares of the company's stock, valued at $528,500.84. This trade represents a 40.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Weiss Ratings raised Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Zacks Research raised Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Oppenheimer began coverage on shares of Healthcare Services Group in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Healthcare Services Group presently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Healthcare Services Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source