Wrapmanager Inc. raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 17.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 24,766 shares of the business services provider’s stock after acquiring an additional 3,747 shares during the period. Wrapmanager Inc.’s holdings in Healthcare Services Group were worth $751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in shares of Healthcare Services Group by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 29,949 shares of the business services provider’s stock valued at $908,000 after acquiring an additional 422 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Healthcare Services Group by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 19,287 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 454 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Healthcare Services Group by 3.9% during the 1st quarter. SG Americas Securities LLC now owns 12,683 shares of the business services provider’s stock valued at $418,000 after acquiring an additional 479 shares during the last quarter. Goelzer Investment Management Inc. boosted its position in shares of Healthcare Services Group by 0.8% during the 1st quarter. Goelzer Investment Management Inc. now owns 64,718 shares of the business services provider’s stock valued at $2,135,000 after acquiring an additional 537 shares during the last quarter. Finally, Huntington National Bank lifted its position in Healthcare Services Group by 88.8% in the second quarter. Huntington National Bank now owns 1,210 shares of the business services provider’s stock worth $37,000 after buying an additional 569 shares during the last quarter.

HCSG traded down $0.74 during trading on Wednesday, reaching $22.76. The company had a trading volume of 9,425 shares, compared to its average volume of 962,318. The company has a market capitalization of $1.75 billion, a PE ratio of 20.98 and a beta of 0.71. The business’s 50 day moving average is $27.64. Healthcare Services Group, Inc. has a 52 week low of $22.70 and a 52 week high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). Healthcare Services Group had a return on equity of 19.40% and a net margin of 4.38%. The company had revenue of $462.10 million during the quarter, compared to the consensus estimate of $477.68 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 23rd will be paid a $0.199 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 3.50%. Healthcare Services Group’s dividend payout ratio (DPR) is presently 70.54%.

In other Healthcare Services Group news, Director Robert L. Frome sold 7,502 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $32.64, for a total value of $244,865.28. Following the sale, the director now owns 18,407 shares in the company, valued at $600,804.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

HCSG has been the subject of a number of analyst reports. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, June 27th. Credit Suisse Group lowered their price target on Healthcare Services Group from $41.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Sidoti lowered their price target on Healthcare Services Group from $51.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, BidaskClub downgraded Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.29.

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 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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