Insider Selling: Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Sells 21,368 Shares of Stock

Key Points

• Executive Vice President John Christopher Shea of Healthcare Services Group, Inc. sold 21,368 shares, resulting in a transaction of $283,126, marking a 39.32% decrease in his stock ownership.
• The company reported earnings of $0.21 per share for the last quarter, exceeding analyst estimates and reflecting a 7.6% increase in revenue compared to the previous year.
• Research analysts have recently upgraded their ratings on Healthcare Services Group, with price targets ranging from $15.00 to $19.00, suggesting a generally positive outlook for the stock.

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) EVP John Christopher Shea sold 21,368 shares of Healthcare Services Group stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.25, for a total transaction of $283,126.00. Following the completion of the sale, the executive vice president directly owned 32,976 shares of the company's stock, valued at approximately $436,932. The trade was a 39.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Healthcare Services Group Stock Up 0.5%

Shares of NASDAQ:HCSG traded up $0.06 during midday trading on Friday, hitting $13.07. The stock had a trading volume of 924,999 shares, compared to its average volume of 913,511. The company's 50-day moving average price is $14.15 and its 200-day moving average price is $12.40. The company has a market capitalization of $946.40 million, a P/E ratio of 93.36 and a beta of 0.54. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $15.73.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $458.50 million during the quarter, compared to analysts' expectations of $450.78 million. Healthcare Services Group had a net margin of 0.61% and a return on equity of 11.74%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. Research analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Healthcare Services Group by 803.4% in the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after purchasing an additional 2,097 shares in the last quarter. USA Financial Formulas acquired a new position in Healthcare Services Group in the 2nd quarter valued at approximately $60,000. US Bancorp DE increased its position in Healthcare Services Group by 161.4% in the 1st quarter. US Bancorp DE now owns 8,097 shares of the business services provider's stock valued at $82,000 after acquiring an additional 5,000 shares during the period. Bank of Montreal Can acquired a new position in Healthcare Services Group in the 4th quarter valued at approximately $118,000. Finally, Martingale Asset Management L P acquired a new position in Healthcare Services Group in the 1st quarter valued at approximately $127,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. UBS Group upgraded shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Benchmark increased their price objective on shares of Healthcare Services Group from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen lowered shares of Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Macquarie raised shares of Healthcare Services Group from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $15.00 to $16.00 in a report on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.25.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.