Tidal Investments LLC Has $3.11 Million Stake in Healthcare Services Group, Inc. $HCSG

Tidal Investments LLC decreased its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 42.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 126,700 shares of the business services provider’s stock after selling 92,309 shares during the period. Tidal Investments LLC’s holdings in Healthcare Services Group were worth $3,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nykredit A S bought a new position in shares of Healthcare Services Group in the second quarter worth about $28,000. Jupiter Asset Management Ltd. raised its position in Healthcare Services Group by 1.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 140,895 shares of the business services provider’s stock worth $2,694,000 after purchasing an additional 1,839 shares during the last quarter. KBC Group NV acquired a new position in Healthcare Services Group during the 1st quarter worth $35,000. Sanctuary Advisors LLC lifted its holdings in Healthcare Services Group by 9.7% during the 1st quarter. Sanctuary Advisors LLC now owns 22,098 shares of the business services provider’s stock worth $410,000 after buying an additional 1,947 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Healthcare Services Group in the 2nd quarter valued at $55,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction, the chief operating officer 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HCSG has been the subject of several research reports. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings lowered Healthcare Services Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 9th. Wall Street Zen cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Oppenheimer started coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, UBS Group boosted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Healthcare Services Group Stock Down 0.6%

HCSG stock opened at $21.91 on Wednesday. Healthcare Services Group, Inc. has a twelve month low of $15.13 and a twelve month high of $25.75. The business’s fifty day moving average is $22.76 and its 200-day moving average is $21.63. The company has a market cap of $1.50 billion, a P/E ratio of 12.74 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The firm had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same quarter in the prior year, the firm posted ($0.44) earnings per share. Research analysts anticipate that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current fiscal year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.

The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.

Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.