Marathon Asset Management Ltd Decreases Position in Healthcare Services Group, Inc. $HCSG

Marathon Asset Management Ltd cut its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 8.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 856,431 shares of the business services provider’s stock after selling 83,210 shares during the quarter. Marathon Asset Management Ltd’s holdings in Healthcare Services Group were worth $16,375,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HCSG. Royal Bank of Canada raised its holdings in Healthcare Services Group by 3.7% in the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock worth $1,402,000 after buying an additional 4,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Healthcare Services Group by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock worth $441,000 after acquiring an additional 1,824 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Healthcare Services Group in the first quarter worth approximately $242,000. Jane Street Group LLC grew its stake in shares of Healthcare Services Group by 962.0% in the first quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock worth $2,017,000 after acquiring an additional 181,242 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Healthcare Services Group by 19.4% in the second quarter. Invesco Ltd. now owns 747,822 shares of the business services provider’s stock worth $11,240,000 after acquiring an additional 121,263 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Trading Down 3.5%

Shares of NASDAQ HCSG opened at $20.79 on Wednesday. The firm has a 50 day moving average of $20.17 and a 200 day moving average of $19.55. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 21.66 and a beta of 0.85. Healthcare Services Group, Inc. has a 12-month low of $12.66 and a 12-month high of $24.39.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.15. The company had revenue of $462.77 million during the quarter, compared to analyst estimates of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. Sell-side analysts predict that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of 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. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Benchmark lifted their price target on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at Healthcare Services Group

In related news, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the sale, the chief accounting officer directly owned 15,735 shares in the company, valued at approximately $342,236.25. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Healthcare Services Group Profile

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.