Legal & General Group Plc Acquires Shares of 169,760 Healthcare Services Group, Inc. $HCSG

Key Points

• Legal & General Group Plc acquired 169,760 shares of Healthcare Services Group in the second quarter, valued at approximately $4.17 million and representing about 0.25% of the company. Institutional investors collectively own 97.97% of HCSG.
• Analyst sentiment is broadly positive: HCSG has a consensus rating of “Moderate Buy” and an average price target of $26.50, compared with a recent share price of $21.82.
• Healthcare Services Group reported quarterly EPS of $0.32, beating estimates of $0.22, while revenue was approximately $470.81 million. Separately, COO Andrew Kush sold 15,598 shares worth about $362,498, reducing his holdings by 40.68%.

Legal & General Group Plc acquired a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 169,760 shares of the business services provider's stock, valued at approximately $4,169,000. Legal & General Group Plc owned approximately 0.25% of Healthcare Services Group at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HCSG. Caitong International Asset Management Co. Ltd purchased a new position in Healthcare Services Group in the 4th quarter worth approximately $33,000. KBC Group NV purchased a new stake in shares of Healthcare Services Group during the 1st quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its holdings in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider's stock valued at $33,000 after buying an additional 1,356 shares during the last quarter. Allworth Financial LP bought a new position in Healthcare Services Group in the 2nd quarter worth $55,000. Finally, OP Asset Management Ltd purchased a new position in shares of Healthcare Services Group during the 1st quarter valued at about $168,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer owned 22,741 shares in the company, valued at approximately $528,500.84. This represents a 40.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

HCSG has been the subject of several recent analyst reports. Oppenheimer initiated coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They issued an "outperform" rating and a $28.00 target price for the company. UBS Group boosted their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Wall Street Zen lowered Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG opened at $21.82 on Friday. Healthcare Services Group, Inc. has a one year low of $15.13 and a one year high of $25.75. The firm has a fifty day moving average of $23.16 and a 200 day moving average of $21.58. The firm has a market cap of $1.50 billion, a PE ratio of 12.69 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million during the quarter, compared to analysts' expectations of $471.22 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. On average, equities analysts predict that Healthcare Services Group, Inc. will post 1.14 EPS for the current fiscal year.

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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