DF Dent & Co. Inc. Buys 361,560 Shares of Healthcare Services Group, Inc. (HCSG)

DF Dent & Co. Inc. raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 19.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,269,253 shares of the business services provider’s stock after purchasing an additional 361,560 shares during the period. Healthcare Services Group accounts for 2.2% of DF Dent & Co. Inc.’s holdings, making the stock its 21st biggest position. DF Dent & Co. Inc.’s holdings in Healthcare Services Group were worth $98,009,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HCSG. Raymond James Trust N.A. purchased a new position in shares of Healthcare Services Group in the second quarter valued at about $203,000. Brookstone Capital Management purchased a new position in shares of Healthcare Services Group in the second quarter valued at about $203,000. Allianz Asset Management GmbH purchased a new position in shares of Healthcare Services Group in the first quarter valued at about $212,000. Eqis Capital Management Inc. purchased a new position in shares of Healthcare Services Group in the second quarter valued at about $222,000. Finally, Natixis purchased a new position in shares of Healthcare Services Group in the first quarter valued at about $246,000. 97.93% of the stock is owned by institutional investors and hedge funds.

NASDAQ:HCSG opened at $42.43 on Friday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 45.27 and a beta of 0.83. Healthcare Services Group, Inc. has a 12 month low of $35.04 and a 12 month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 17th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The firm had revenue of $503.70 million during the quarter, compared to analysts’ expectations of $508.78 million. Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. Healthcare Services Group’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. analysts anticipate that Healthcare Services Group, Inc. will post 1.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 24th will be given a $0.1938 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, August 23rd. Healthcare Services Group’s payout ratio is currently 64.71%.

Several brokerages have recently commented on HCSG. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. BidaskClub downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, July 18th. Finally, Stifel Nicolaus downgraded Healthcare Services Group from a “hold” rating to a “sell” rating and lowered their price objective for the company from $44.00 to $35.00 in a research report on Wednesday, July 18th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.00.

In related news, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total value of $124,961.64. Following the sale, the director now directly owns 3,001 shares in the company, valued at $124,961.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dino D. Ottaviano sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $41.05, for a total value of $47,207.50. Following the completion of the sale, the director now owns 1,694 shares in the company, valued at $69,538.70. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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

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