Summit Creek Advisors Lowers stake in Healthcare Services Group (HCSG)

Healthcare Services Group (HCSG) : Summit Creek Advisors reduced its stake in Healthcare Services Group by 5.89% during the most recent quarter end. The investment management company now holds a total of 434,930 shares of Healthcare Services Group which is valued at $16,870,935 after selling 27,224 shares in Healthcare Services Group , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Healthcare Services Group makes up approximately 2.74% of Summit Creek Advisors’s portfolio.

Other Hedge Funds, Including , Eagle Asset Management Inc reduced its stake in HCSG by selling 27,761 shares or 20.34% in the most recent quarter. The Hedge Fund company now holds 108,698 shares of HCSG which is valued at $4,162,046. Healthcare Services Group makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.Eqis Capital Management boosted its stake in HCSG in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 8,983 shares of Healthcare Services Group which is valued at $341,174. Healthcare Services Group makes up approx 0.02% of Eqis Capital Management’s portfolio.

Healthcare Services Group opened for trading at $38.22 and hit $38.38 on the upside on Wednesday, eventually ending the session at $38.29, with a gain of 0.82% or 0.31 points. The heightened volatility saw the trading volume jump to 6,20,494 shares. Company has a market cap of $2,771 M.

On the company’s financial health, Healthcare Services Group reported $0.26 EPS for the quarter, based on the information available during the earnings call on Jul 12, 2016. Analyst had a consensus estimate of $0.26. The company had revenue of $386.56 million for the quarter, compared to analysts expectations of $392.26 million. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Investors should note that on Jul 12, 2016, Healthcare Services Group announced a cash dividend of $0.1837. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 23, 2016.

Healthcare Services Group Inc. provides management administrative and operating services to the housekeeping laundry linen facility maintenance and dietary service departments of the health care industry. The Company caters to nursing homes retirement complexes rehabilitation centers and hospitals located in the United States. The Company operates its business in two segments: Housekeeping and Dietary. The Housekeeping segment includes housekeeping laundry and linen. Housekeeping segment also includes laundering and processing the bed linens uniforms and other assorted linen items utilized by a client facility. The Dietary segment includes dietary department services. Dietary consists of managing the client’s dietary department which is principally responsible for food purchasing meal preparation and providing professional dietitian consulting services which includes the development of a menu that meets a patient’s dietary needs.

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