Legato Capital Management LLC Buys 45,133 Shares of Healthcare Services Group, Inc. $HCSG

Legato Capital Management LLC grew its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 45.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,950 shares of the business services provider’s stock after acquiring an additional 45,133 shares during the quarter. Legato Capital Management LLC’s holdings in Healthcare Services Group were worth $2,440,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HCSG. Royal Bank of Canada boosted its position in Healthcare Services Group by 3.7% during the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 4,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Healthcare Services Group by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock valued at $441,000 after buying an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Healthcare Services Group in the 1st quarter valued at about $242,000. Jane Street Group LLC boosted its holdings in shares of Healthcare Services Group by 962.0% in the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock valued at $2,017,000 after buying an additional 181,242 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Healthcare Services Group in the 2nd quarter worth approximately $340,000. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Stock Up 2.1%

Shares of NASDAQ:HCSG opened at $22.22 on Tuesday. Healthcare Services Group, Inc. has a 52-week low of $9.13 and a 52-week high of $22.98. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 27.10 and a beta of 0.74. The business has a 50-day moving average price of $19.72 and a 200-day moving average price of $18.04.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. Healthcare Services Group’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Insider Activity at Healthcare Services Group

In other news, EVP John Christopher Shea sold 54,357 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total value of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at $597,849.72. The trade was a 64.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Andrew M. Brophy sold 2,490 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the sale, the chief accounting officer owned 15,735 shares in the company, valued at $342,236.25. The trade was a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,962 shares of company stock worth $3,014,100 over the last three months. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, February 12th. Wall Street Zen lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. UBS Group set a $25.00 price objective on Healthcare Services Group and gave the stock a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $22.00 target price on shares of Healthcare Services Group in a research report on Thursday, February 12th. Finally, William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

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.