Wellington Management Group LLP Makes New Investment in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Wellington Management Group LLP acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 311,845 shares of the business services provider’s stock, valued at approximately $3,253,000. Wellington Management Group LLP owned about 0.42% of Healthcare Services Group at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG grew its stake in shares of Healthcare Services Group by 12.9% in the 3rd quarter. Deutsche Bank AG now owns 39,615 shares of the business services provider’s stock worth $413,000 after acquiring an additional 4,534 shares in the last quarter. Connors Investor Services Inc. grew its stake in shares of Healthcare Services Group by 29.3% in the 3rd quarter. Connors Investor Services Inc. now owns 241,519 shares of the business services provider’s stock worth $2,513,000 after acquiring an additional 54,668 shares in the last quarter. Comerica Bank bought a new stake in shares of Healthcare Services Group in the 3rd quarter worth $370,000. Morgan Stanley grew its stake in shares of Healthcare Services Group by 39.8% in the 3rd quarter. Morgan Stanley now owns 1,867,209 shares of the business services provider’s stock worth $19,475,000 after acquiring an additional 531,600 shares in the last quarter. Finally, Toroso Investments LLC grew its stake in shares of Healthcare Services Group by 20.0% in the 3rd quarter. Toroso Investments LLC now owns 53,536 shares of the business services provider’s stock worth $558,000 after acquiring an additional 8,920 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG opened at $12.53 on Thursday. The firm has a market cap of $921.96 million, a P/E ratio of 23.64 and a beta of 0.48. The firm has a 50-day moving average of $11.29 and a 200 day moving average of $10.53. Healthcare Services Group, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $15.97.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, February 14th. The business services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $423.80 million during the quarter, compared to analyst estimates of $424.57 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 10.81%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Equities research analysts predict that Healthcare Services Group, Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

HCSG has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Robert W. Baird increased their price target on shares of Healthcare Services Group from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Benchmark increased their price target on shares of Healthcare Services Group from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, UBS Group increased their price target on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.50.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.