SummerHaven Investment Management LLC Raises Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

SummerHaven Investment Management LLC lifted its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.8% during the first quarter, HoldingsChannel reports. The firm owned 73,841 shares of the business services provider’s stock after purchasing an additional 1,297 shares during the period. SummerHaven Investment Management LLC’s holdings in Healthcare Services Group were worth $744,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Legato Capital Management LLC boosted its position in Healthcare Services Group by 215.5% in the 4th quarter. Legato Capital Management LLC now owns 139,263 shares of the business services provider’s stock valued at $1,618,000 after buying an additional 95,118 shares during the period. Stanley Laman Group Ltd. raised its stake in shares of Healthcare Services Group by 3.0% during the fourth quarter. Stanley Laman Group Ltd. now owns 357,906 shares of the business services provider’s stock valued at $4,157,000 after acquiring an additional 10,325 shares in the last quarter. Principal Financial Group Inc. grew its stake in Healthcare Services Group by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 355,419 shares of the business services provider’s stock worth $4,128,000 after purchasing an additional 9,492 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Healthcare Services Group by 71.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 324,862 shares of the business services provider’s stock worth $3,773,000 after purchasing an additional 135,233 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Healthcare Services Group by 16.9% during the 4th quarter. New York State Common Retirement Fund now owns 720,267 shares of the business services provider’s stock worth $8,366,000 after purchasing an additional 104,157 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Trading Up 1.4%

Shares of NASDAQ:HCSG opened at $14.78 on Thursday. The company has a market capitalization of $1.08 billion, a PE ratio of 27.37 and a beta of 0.55. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $14.90. The business’s fifty day simple moving average is $12.98 and its 200-day simple moving average is $11.86.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. Research analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on HCSG shares. UBS Group upgraded Healthcare Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $15.00 in a report on Thursday, April 24th. Robert W. Baird upped their price objective on shares of Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Macquarie increased their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

Healthcare Services Group 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.