Pacer Advisors Inc. Lowers Stock Position in Healthcare Services Group, Inc. $HCSG

Pacer Advisors Inc. decreased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 12.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,507 shares of the business services provider’s stock after selling 40,078 shares during the period. Pacer Advisors Inc.’s holdings in Healthcare Services Group were worth $5,185,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HCSG. EverSource Wealth Advisors LLC boosted its stake in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Healthcare Services Group during the 4th quarter worth $33,000. KBC Group NV acquired a new position in shares of Healthcare Services Group during the 1st quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in shares of Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Healthcare Services Group by 600.8% during the second quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock worth $154,000 after buying an additional 8,795 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $22.84 on Thursday. The firm has a market cap of $1.57 billion, a PE ratio of 13.28 and a beta of 0.81. The firm has a 50 day simple moving average of $23.04 and a 200-day simple moving average of $21.18. Healthcare Services Group, Inc. has a 1-year low of $13.69 and a 1-year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The firm had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. During the same period in the previous year, the company earned ($0.44) EPS. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current fiscal year.

Insider Transactions at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer owned 22,741 shares of the company’s stock, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price target 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. Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Benchmark raised their target price on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, UBS Group upped their target price on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.20.

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.