Insider Selling: Healthcare Services Group (NASDAQ:HCSG) EVP Sells 18,239 Shares of Stock

Key Points

• Healthcare Services Group EVP Jason Bundick sold 18,239 shares at an average price of $25.11, generating approximately $458,000. The transaction reduced his direct ownership by 51.58% to 17,125 shares.
• HCSG shares traded at $24.37 following the sale, near their 12-month high of $25.75. The company recently reported quarterly EPS of $0.36, exceeding analyst expectations of $0.24, while revenue of $479.6 million was slightly below estimates.
• Analyst sentiment remains a “Moderate Buy”, with six Buy and four Hold ratings and an average price target of $26.67. Institutional investors own 97.97% of the company’s outstanding shares.

Healthcare Services Group, Inc. (NASDAQ:HCSG - Get Free Report) EVP Jason Bundick sold 18,239 shares of Healthcare Services Group stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $25.11, for a total transaction of $457,981.29. Following the sale, the executive vice president directly owned 17,125 shares in the company, valued at $430,008.75. This trade represents a 51.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Healthcare Services Group Price Performance

HCSG stock traded down $0.75 during trading on Tuesday, reaching $24.37. 882,591 shares of the company were exchanged, compared to its average volume of 736,776. The company has a 50-day moving average of $21.81 and a two-hundred day moving average of $21.28. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.36 and a beta of 0.81. Healthcare Services Group, Inc. has a twelve month low of $16.78 and a twelve month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its earnings results on Wednesday, October 21st. The business services provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. Healthcare Services Group had a net margin of 5.58% and a return on equity of 20.22%. The firm had revenue of $479.60 million for the quarter, compared to analyst estimates of $480.80 million. During the same quarter last year, the business posted $0.59 earnings per share. On average, analysts forecast that Healthcare Services Group, Inc. will post 1.32 EPS for the current year.

Institutional Trading of Healthcare Services Group

Several institutional investors have recently added to or reduced their stakes in HCSG. BlackRock Inc. acquired a new stake in Healthcare Services Group during the 2nd quarter valued at approximately $279,379,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Healthcare Services Group by 454.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider's stock worth $26,080,000 after purchasing an additional 1,152,176 shares during the period. Jupiter Topco LLC bought a new stake in shares of Healthcare Services Group in the 2nd quarter valued at $22,406,000. Palisade Capital Management LP bought a new stake in shares of Healthcare Services Group in the 2nd quarter valued at $17,845,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Healthcare Services Group in the 2nd quarter valued at $10,438,000. 97.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HCSG has been the topic of several recent research reports. UBS Group raised their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen downgraded Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Robert W. Baird cut their price target on Healthcare Services Group from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, October 8th. Zacks Research cut Healthcare Services Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Finally, Oppenheimer assumed coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They issued an "outperform" rating and a $28.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Healthcare Services Group presently has an average rating of "Moderate Buy" and an average price target of $26.67.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc NASDAQ: HCSG provides outsourced support services to healthcare facilities in the United States. Its customers primarily include nursing homes, skilled nursing facilities, continuing care retirement communities, assisted-living facilities and other institutional healthcare providers.

The company's principal service offerings include housekeeping, laundry and linen services, as well as dining and nutritional services. These services are designed to help healthcare operators manage nonclinical functions, maintain facility standards and support the daily needs of residents and patients.

Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.

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