Patrick Orr Sells 45,500 Shares of Healthcare Services Group (NASDAQ:HCSG) Stock

Healthcare Services Group, Inc. (NASDAQ:HCSG) EVP Patrick Orr sold 45,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total value of $934,570.00. Following the transaction, the executive vice president directly owned 44,615 shares of the company’s stock, valued at approximately $916,392.10. The trade was a 50.49% 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 Stock Performance

HCSG stock traded down $0.07 during midday trading on Thursday, reaching $20.22. 596,158 shares of the company traded hands, compared to its average volume of 804,724. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.66 and a beta of 0.74. Healthcare Services Group, Inc. has a 52-week low of $9.13 and a 52-week high of $22.98. The business has a 50 day moving average of $19.42 and a 200-day moving average of $17.64.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The firm had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Miller Global Investments LLC bought a new stake in Healthcare Services Group during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in shares of Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after buying an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Healthcare Services Group during the fourth quarter valued at $33,000. GAMMA Investing LLC raised its holdings in shares of Healthcare Services Group by 94.9% in the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 877 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HCSG. Macquarie Infrastructure restated a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. UBS Group set a $25.00 price objective on shares of Healthcare Services Group and gave the stock a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets reissued a “market perform” rating and issued a $22.00 price objective on shares of Healthcare Services Group in a research note on Thursday, February 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. Finally, Robert W. Baird set a $23.00 price target on Healthcare Services Group in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

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.