Envestnet Asset Management Inc. Cuts Holdings in Healthcare Services Group, Inc. (HCSG)

Envestnet Asset Management Inc. cut its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,346 shares of the business services provider’s stock after selling 7,285 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Healthcare Services Group worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Healthcare Services Group by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 242 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Healthcare Services Group by 4.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock valued at $141,000 after acquiring an additional 135 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Healthcare Services Group in the 2nd quarter valued at about $170,000. ETRADE Capital Management LLC bought a new stake in shares of Healthcare Services Group in the 3rd quarter valued at about $202,000. Finally, Riverhead Capital Management LLC increased its stake in shares of Healthcare Services Group by 69.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,659 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

In related news, EVP Michael E. Mcbryan sold 800 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total transaction of $42,400.00. Following the completion of the sale, the executive vice president now directly owns 14,413 shares of the company’s stock, valued at approximately $763,889. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael E. Mcbryan sold 22,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.03, for a total value of $1,193,175.00. Following the sale, the insider now directly owns 14,413 shares of the company’s stock, valued at $764,321.39. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Shares of Healthcare Services Group, Inc. (NASDAQ HCSG) opened at $51.23 on Friday. Healthcare Services Group, Inc. has a 52 week low of $37.54 and a 52 week high of $55.68. The stock has a market capitalization of $3,736.19, a P/E ratio of 42.85, a P/E/G ratio of 3.73 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, October 17th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The business had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $485.53 million. During the same period in the prior year, the business earned $0.27 EPS. Healthcare Services Group’s revenue for the quarter was up 25.1% compared to the same quarter last year. equities analysts anticipate that Healthcare Services Group, Inc. will post 1.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, November 17th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, November 16th. Healthcare Services Group’s dividend payout ratio is presently 63.87%.

A number of brokerages have recently commented on HCSG. BidaskClub cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of Healthcare Services Group in a research note on Friday, November 3rd. Zacks Investment Research cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, October 19th. Finally, Jefferies Group set a $52.00 price target on Healthcare Services Group and gave the company a “hold” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Healthcare Services Group has an average rating of “Hold” and an average target price of $54.80.

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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 of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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

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