Healthcare Services Group, Inc. $HCSG Stock Position Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 173.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 57,353 shares of the business services provider’s stock after buying an additional 36,367 shares during the period. Hsbc Holdings PLC’s holdings in Healthcare Services Group were worth $1,052,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HCSG. Cetera Investment Advisers grew its position in Healthcare Services Group by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock worth $269,000 after purchasing an additional 581 shares in the last quarter. Sanctuary Advisors LLC raised its position in Healthcare Services Group by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 738 shares in the last quarter. GAMMA Investing LLC raised its position in Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 845 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 877 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Healthcare Services Group by 8.2% in the fourth quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock valued at $226,000 after acquiring an additional 895 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $23.75 on Wednesday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78. Healthcare Services Group, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $25.75. The firm has a fifty day moving average price of $22.71 and a two-hundred day moving average price of $21.01.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same period in the prior year, the company earned ($0.44) earnings per share. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HCSG shares. UBS Group increased their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Benchmark upped their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. BMO Capital Markets increased their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded Healthcare Services Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.20.

Healthcare Services Group Company Profile

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.