Picton Mahoney Asset Management Makes New $1.56 Million Investment in Healthcare Services Group, Inc. $HCSG

Picton Mahoney Asset Management purchased a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 92,954 shares of the business services provider’s stock, valued at approximately $1,564,000. Picton Mahoney Asset Management owned 0.13% of Healthcare Services Group as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HCSG. Trail Ridge Investment Advisors LLC increased its holdings in Healthcare Services Group by 2.6% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 609 shares during the last quarter. Amalgamated Bank lifted its stake in Healthcare Services Group by 3.4% during the third quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock worth $363,000 after purchasing an additional 719 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Healthcare Services Group by 6.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,721 shares of the business services provider’s stock worth $281,000 after buying an additional 1,135 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Healthcare Services Group by 8.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,925 shares of the business services provider’s stock worth $239,000 after buying an additional 1,224 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on HCSG. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Wall Street Zen cut shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 22nd. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Finally, Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Insider Buying and Selling at Healthcare Services Group

In related news, EVP John Christopher Shea sold 54,357 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. The trade was a 64.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the transaction, the chief accounting officer directly owned 15,735 shares in the company, valued at $342,236.25. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 146,962 shares of company stock valued at $3,014,100. Insiders own 2.60% of the company’s stock.

Healthcare Services Group Price Performance

HCSG stock opened at $20.98 on Friday. The business’s 50-day moving average is $19.82 and its two-hundred day moving average is $18.12. The firm has a market capitalization of $1.47 billion, a P/E ratio of 25.59 and a beta of 0.73. Healthcare Services Group, Inc. has a 1 year low of $9.13 and a 1 year high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. The firm had revenue of $466.68 million for the quarter, compared to analyst estimates of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. On average, analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.