Royce & Associates LP Raises Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Royce & Associates LP lifted its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,449,496 shares of the business services provider’s stock after purchasing an additional 290,621 shares during the quarter. Royce & Associates LP owned 6.07% of Healthcare Services Group worth $49,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Hillsdale Investment Management Inc. purchased a new position in Healthcare Services Group in the 1st quarter worth about $3,765,000. Azarias Capital Management L.P. raised its holdings in shares of Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after purchasing an additional 412,704 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Healthcare Services Group by 12.2% in the second quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock worth $13,983,000 after purchasing an additional 142,997 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after purchasing an additional 181,231 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Healthcare Services Group during the 2nd quarter valued at $971,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $11.93 on Friday. The business’s fifty day moving average is $10.91 and its 200 day moving average is $10.86. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The company has a market capitalization of $874.35 million, a PE ratio of 17.29 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

Analyst Ratings Changes

HCSG has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, October 24th. Finally, Robert W. Baird lowered their price objective on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.00.

Healthcare Services Group Profile

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.