Everence Capital Management Inc. Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Everence Capital Management Inc. raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 100.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,290 shares of the business services provider’s stock after acquiring an additional 12,200 shares during the period. Everence Capital Management Inc.’s holdings in Healthcare Services Group were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Middle East FZE purchased a new stake in Healthcare Services Group during the 4th quarter valued at approximately $63,000. Tower Research Capital LLC TRC increased its position in Healthcare Services Group by 122.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,454 shares of the business services provider’s stock worth $66,000 after purchasing an additional 2,456 shares during the period. State of Wyoming increased its position in Healthcare Services Group by 33.4% during the 4th quarter. State of Wyoming now owns 6,436 shares of the business services provider’s stock worth $77,000 after purchasing an additional 1,611 shares during the period. Captrust Financial Advisors increased its position in Healthcare Services Group by 64.6% during the 1st quarter. Captrust Financial Advisors now owns 4,582 shares of the business services provider’s stock worth $85,000 after purchasing an additional 1,799 shares during the period. Finally, CWM LLC increased its position in Healthcare Services Group by 173.4% during the 3rd quarter. CWM LLC now owns 10,209 shares of the business services provider’s stock worth $106,000 after purchasing an additional 6,475 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

HCSG opened at $11.70 on Friday. Healthcare Services Group, Inc. has a 1-year low of $8.75 and a 1-year high of $15.97. The stock’s 50 day simple moving average is $12.10 and its 200 day simple moving average is $10.68. The stock has a market cap of $861.59 million, a P/E ratio of 22.08 and a beta of 0.49.

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

Analyst Upgrades and Downgrades

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

Healthcare Services Group Company Profile

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.