Hsbc Holdings PLC Buys New Position in Healthcare Services Group, Inc. $HCSG

Hsbc Holdings PLC bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,986 shares of the business services provider’s stock, valued at approximately $408,000.

Several other hedge funds also recently modified their holdings of HCSG. Miller Global Investments LLC purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Healthcare Services Group by 163.4% during 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 during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its position in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Healthcare Services Group by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after acquiring an additional 845 shares during the period. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Stock Up 1.3%

Shares of NASDAQ:HCSG opened at $25.31 on Friday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 26.36 and a beta of 0.78. The company has a 50 day moving average of $22.43 and a two-hundred day moving average of $20.77. Healthcare Services Group, Inc. has a 52-week low of $12.66 and a 52-week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. The company had revenue of $462.77 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. On average, equities analysts anticipate that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. BMO Capital Markets lifted their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. 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. Weiss Ratings upgraded Healthcare Services Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Royal Bank Of Canada raised 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. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.50.

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.