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

Persistent Asset Partners Ltd reduced its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 54.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,839 shares of the business services provider’s stock after selling 80,528 shares during the period. Persistent Asset Partners Ltd owned approximately 0.09% of Healthcare Services Group worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Squarepoint Ops LLC boosted its stake in shares of Healthcare Services Group by 625.6% in the fourth quarter. Squarepoint Ops LLC now owns 205,628 shares of the business services provider’s stock valued at $3,932,000 after buying an additional 177,288 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Healthcare Services Group by 65.9% in the fourth quarter. Panagora Asset Management Inc. now owns 84,051 shares of the business services provider’s stock valued at $1,607,000 after buying an additional 33,390 shares during the period. Mariner LLC lifted its stake in Healthcare Services Group by 78.8% during the fourth quarter. Mariner LLC now owns 48,862 shares of the business services provider’s stock worth $938,000 after purchasing an additional 21,531 shares during the last quarter. Barclays PLC lifted its stake in Healthcare Services Group by 16.4% during the fourth quarter. Barclays PLC now owns 131,676 shares of the business services provider’s stock worth $2,518,000 after purchasing an additional 18,531 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Healthcare Services Group by 354.7% during the fourth quarter. Marshall Wace LLP now owns 114,639 shares of the business services provider’s stock worth $2,192,000 after purchasing an additional 89,428 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. UBS Group upped their target price on Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Wall Street Zen upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Finally, William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $22.56 on Wednesday. The firm’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $19.98. The stock has a market cap of $1.55 billion, a PE ratio of 23.50 and a beta of 0.82. Healthcare Services Group, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.39.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $462.77 million during the quarter, compared to analysts’ expectations of $479.79 million. During the same period in the prior year, the company earned $0.23 EPS. Healthcare Services Group’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current fiscal year.

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.