Persistent Asset Partners Ltd Sells 80,528 Shares of Healthcare Services Group, Inc. $HCSG

Persistent Asset Partners Ltd trimmed its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 54.6% in the fourth quarter, Holdings Channel reports. The fund owned 66,839 shares of the business services provider’s stock after selling 80,528 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Healthcare Services Group were worth $1,278,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. 8 Knots Management LLC bought a new position in shares of Healthcare Services Group in the 3rd quarter valued at $56,527,000. Ameriprise Financial Inc. lifted its stake in shares of Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after acquiring an additional 882,213 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Healthcare Services Group by 38.1% in the 3rd quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after acquiring an additional 487,608 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Healthcare Services Group by 12.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock valued at $28,209,000 after acquiring an additional 158,261 shares during the last quarter. Finally, Nuveen LLC lifted its stake in shares of Healthcare Services Group by 29.2% in the 4th quarter. Nuveen LLC now owns 1,282,492 shares of the business services provider’s stock valued at $24,521,000 after acquiring an additional 290,019 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Stock Up 1.2%

Shares of NASDAQ:HCSG opened at $22.56 on Wednesday. The firm has a market cap of $1.55 billion, a P/E ratio of 23.50 and a beta of 0.82. Healthcare Services Group, Inc. has a 12-month low of $12.66 and a 12-month high of $24.39. The business has a fifty day simple moving average of $20.80 and a 200 day simple moving average of $19.98.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.15. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The business had revenue of $462.77 million during the quarter, compared to analyst estimates of $479.79 million. During the same period last year, the company earned $0.23 EPS. Healthcare Services Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on HCSG. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Royal Bank Of Canada raised their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Tuesday, June 2nd. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.