Healthcare Services Group, Inc. $HCSG Stock Holdings Reduced by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,982,689 shares of the business services provider’s stock after selling 256,535 shares during the quarter. Royce & Associates LP’s holdings in Healthcare Services Group were worth $40,546,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in shares of Healthcare Services Group in the 2nd quarter valued at $3,661,000. Meros Investment Management LP bought a new position in shares of Healthcare Services Group during the 2nd quarter valued at $7,112,502. Empowered Funds LLC grew its holdings in shares of Healthcare Services Group by 123.6% during the 1st quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock valued at $4,004,000 after purchasing an additional 119,290 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Healthcare Services Group during the 2nd quarter valued at $4,169,000. Finally, SummerHaven Investment Management LLC purchased a new position in Healthcare Services Group in the 3rd quarter worth $1,484,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Healthcare Services Group

In other news, EVP Jason J. Bundick sold 18,239 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $25.11, for a total transaction of $457,981.29. Following the completion of the sale, the executive vice president directly owned 17,125 shares in the company, valued at approximately $430,008.75. This represents a 51.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HCSG. Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer began coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price target for the company. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Robert W. Baird decreased their price objective on Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Finally, Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Healthcare Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Healthcare Services Group Price Performance

HCSG traded down $0.12 during trading on Friday, hitting $24.90. 274,851 shares of the stock traded hands, compared to its average volume of 792,762. The firm has a market capitalization of $1.68 billion, a P/E ratio of 16.71 and a beta of 0.92. The firm has a 50-day moving average of $22.54 and a 200 day moving average of $21.69. Healthcare Services Group, Inc. has a 12-month low of $16.78 and a 12-month high of $27.05.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, October 21st. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Healthcare Services Group had a net margin of 5.58% and a return on equity of 20.22%. The business had revenue of $479.60 million for the quarter, compared to analyst estimates of $480.80 million. During the same quarter last year, the firm earned $0.59 EPS. As a group, equities analysts predict that Healthcare Services Group, Inc. will post 1.32 EPS for the current fiscal year.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc. provides housekeeping, laundry and dining services to healthcare and other care-related facilities in the United States. Its clients include skilled nursing and rehabilitation centers, hospitals, retirement communities and other long-term care settings. The company’s services are generally organized around environmental services, which include cleaning and laundry, and dining and nutrition services, which include meal preparation and food-service operations. Healthcare Services Group was founded in 1976 and is headquartered in Bensalem, Pennsylvania.