Renaissance Technologies LLC Acquires 25,100 Shares of Healthcare Services Group, Inc. $HCSG

Renaissance Technologies LLC grew its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 64.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,104 shares of the business services provider’s stock after purchasing an additional 25,100 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Healthcare Services Group worth $1,189,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Healthcare Services Group during the 4th quarter valued at approximately $33,000. KBC Group NV bought a new stake in Healthcare Services Group in the first quarter worth $35,000. EverSource Wealth Advisors LLC boosted its holdings in 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 worth $33,000 after acquiring an additional 1,356 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 worth $69,000 after acquiring an additional 877 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in shares of Healthcare Services Group in the first quarter worth $168,000. 97.97% of the stock is owned by institutional investors.

Insider Transactions at Healthcare Services Group

In related news, COO Andrew Kush sold 15,598 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares in the company, valued at approximately $528,500.84. The trade was a 40.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Healthcare Services Group Stock Performance

Shares of NASDAQ:HCSG opened at $21.09 on Friday. The stock’s 50-day simple moving average is $23.17 and its two-hundred day simple moving average is $21.29. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.26 and a beta of 0.81. Healthcare Services Group, Inc. has a 52-week low of $14.82 and a 52-week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The firm had revenue of $470.81 million during the quarter, compared to analyst estimates of $471.22 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. As a group, equities analysts forecast that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCSG has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on 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. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada raised their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.20.

Healthcare Services Group 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.