King Luther Capital Management Corp Reduces Stake in Healthcare Services Group, Inc. (HCSG)

King Luther Capital Management Corp lowered its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,492 shares of the business services provider’s stock after selling 37,727 shares during the period. King Luther Capital Management Corp owned 0.26% of Healthcare Services Group worth $8,208,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HCSG. Emerald Advisers Inc. PA purchased a new stake in Healthcare Services Group during the first quarter worth about $204,000. Harfst & Associates Inc. bought a new position in Healthcare Services Group during the first quarter worth approximately $206,000. Park National Corp OH bought a new position in Healthcare Services Group during the first quarter worth approximately $212,000. Everence Capital Management Inc. bought a new position in Healthcare Services Group during the first quarter worth approximately $213,000. Finally, Fortaleza Asset Management Inc. raised its position in Healthcare Services Group by 161.9% in the fourth quarter. Fortaleza Asset Management Inc. now owns 4,990 shares of the business services provider’s stock worth $195,000 after buying an additional 3,085 shares during the last quarter. 94.20% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

Shares of Healthcare Services Group, Inc. (NASDAQ HCSG) traded down 0.65% during midday trading on Tuesday, reaching $47.69. The company’s stock had a trading volume of 158,009 shares. Healthcare Services Group, Inc. has a 12 month low of $34.83 and a 12 month high of $50.00. The company’s 50-day moving average price is $46.96 and its 200-day moving average price is $42.85. The company has a market cap of $3.48 billion, a PE ratio of 43.75 and a beta of 0.57.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, April 11th. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Healthcare Services Group had a net margin of 5.11% and a return on equity of 23.95%. The company had revenue of $404.50 million during the quarter, compared to analysts’ expectations of $416.40 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Healthcare Services Group, Inc. will post $1.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, May 19th will be issued a $0.1875 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, May 17th. This represents a $0.75 dividend on an annualized basis and a yield of 1.57%. Healthcare Services Group’s payout ratio is presently 67.57%.

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A number of research firms have recently commented on HCSG. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price target (up from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Credit Suisse Group started coverage on Healthcare Services Group in a research note on Friday, May 19th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Healthcare Services Group currently has a consensus rating of “Hold” and a consensus target price of $48.25.

In other Healthcare Services Group news, Director Robert L. Frome sold 7,485 shares of Healthcare Services Group stock in a transaction on Friday, June 9th. The shares were sold at an average price of $47.00, for a total value of $351,795.00. Following the completion of the transaction, the director now owns 37,986 shares of the company’s stock, valued at $1,785,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Briggs sold 2,500 shares of Healthcare Services Group stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $47.52, for a total transaction of $118,800.00. Following the completion of the transaction, the director now directly owns 22,017 shares of the company’s stock, valued at approximately $1,046,247.84. The disclosure for this sale can be found here. Insiders sold 128,886 shares of company stock valued at $5,935,234 in the last ninety days. 4.80% of the stock is owned by corporate insiders.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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