Healthcare Services Group, Inc. $HCSG Shares Bought by CSM Advisors LLC

Key Points

• CSM Advisors boosted its stake in Healthcare Services Group by 29.2% in Q3, buying 172,388 shares to hold 762,197 shares (about 1.08% of the company) valued at roughly $12.83 million amid 97.97% institutional ownership.
• Insider selling has been notable: executives (including the CAO and EVP) sold a combined 146,962 shares worth about $3.01 million over the past 90 days, cutting insider ownership to approximately 2.60%.
• Healthcare Services Group beat quarterly EPS expectations ($0.44 vs. $0.23) with revenue roughly in line, but analysts maintain a consensus "Hold" rating and an average price target of $22 while the stock trades near $19.54.

CSM Advisors LLC increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 29.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 762,197 shares of the business services provider's stock after purchasing an additional 172,388 shares during the quarter. CSM Advisors LLC owned 1.08% of Healthcare Services Group worth $12,830,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Healthcare Services Group during the third quarter valued at about $2,860,000. Allianz Asset Management GmbH boosted its position in shares of Healthcare Services Group by 229.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 164,380 shares of the business services provider's stock worth $2,767,000 after purchasing an additional 114,482 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Healthcare Services Group by 38.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 345,332 shares of the business services provider's stock valued at $5,812,000 after purchasing an additional 96,472 shares during the last quarter. Bailard Inc. acquired a new stake in Healthcare Services Group in the 3rd quarter valued at approximately $655,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Healthcare Services Group in the second quarter valued at approximately $407,000. Institutional investors and hedge funds own 97.97% of the company's stock.

Insider Activity at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the sale, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the sale, the executive vice president directly owned 29,292 shares of the company's stock, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,962 shares of company stock valued at $3,014,100 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Healthcare Services Group Price Performance

HCSG opened at $19.54 on Friday. The business has a fifty day moving average price of $19.93 and a 200 day moving average price of $18.34. Healthcare Services Group, Inc. has a 12 month low of $9.13 and a 12 month high of $22.98. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 23.83 and a beta of 0.73.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The business had revenue of $466.68 million during the quarter, compared to analysts' expectations of $467.24 million. During the same quarter last year, the business posted $0.16 EPS. The business's quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on HCSG. Weiss Ratings restated a "hold (c+)" rating on shares of Healthcare Services Group in a research report on Monday, December 29th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the stock a "buy" rating in a research note on Thursday, February 12th. BMO Capital Markets restated a "market perform" rating and set a $22.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. Royal Bank Of Canada began coverage on shares of Healthcare Services Group in a research note on Tuesday, March 3rd. They set a "sector perform" rating and a $22.00 price target on the stock. Finally, Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Healthcare Services Group currently has a consensus rating of "Hold" and an average price target of $22.00.

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.

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