Connors Investor Services Inc. lifted its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,124 shares of the business services provider's stock after acquiring an additional 8,520 shares during the quarter. Connors Investor Services Inc. owned about 0.25% of Healthcare Services Group worth $3,419,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in HCSG. Covestor Ltd bought a new stake in Healthcare Services Group during the 4th quarter valued at approximately $46,000. Financial Management Professionals Inc. bought a new stake in Healthcare Services Group during the 1st quarter valued at approximately $69,000. FinTrust Capital Advisors LLC bought a new stake in Healthcare Services Group during the 1st quarter valued at approximately $80,000. Captrust Financial Advisors boosted its stake in Healthcare Services Group by 64.6% during the 1st quarter. Captrust Financial Advisors now owns 4,582 shares of the business services provider's stock valued at $85,000 after purchasing an additional 1,799 shares during the period. Finally, Hardy Reed LLC bought a new stake in Healthcare Services Group during the 1st quarter valued at approximately $98,000.
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Analyst Upgrades and Downgrades
Several brokerages recently weighed in on HCSG. Robert W. Baird decreased their target price on Healthcare Services Group from $23.00 to $15.00 in a research note on Thursday, July 21st. StockNews.com upgraded Healthcare Services Group from a "sell" rating to a "hold" rating in a research report on Tuesday, June 28th. Finally, Credit Suisse Group reduced their price objective on Healthcare Services Group to $15.00 in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.88.
Healthcare Services Group Price Performance
HCSG stock opened at $14.01 on Wednesday. The business has a fifty day moving average price of $15.01 and a 200 day moving average price of $16.46. Healthcare Services Group, Inc. has a fifty-two week low of $13.28 and a fifty-two week high of $27.11. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 35.03 and a beta of 0.21.
Healthcare Services Group (NASDAQ:HCSG – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Healthcare Services Group had a net margin of 1.77% and a return on equity of 6.56%. The business had revenue of $424.90 million for the quarter, compared to analyst estimates of $427.22 million. During the same period in the prior year, the business earned $0.13 earnings per share. The company's revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts expect that Healthcare Services Group, Inc. will post 0.44 earnings per share for the current fiscal year.
Healthcare Services Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, August 19th will be issued a dividend of $0.2138 per share. This represents a $0.86 dividend on an annualized basis and a yield of 6.10%. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. The ex-dividend date is Thursday, August 18th. Healthcare Services Group's dividend payout ratio (DPR) is currently 215.00%.
About Healthcare Services Group
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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.
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