Healthcare Services Group, Inc. $HCSG Shares Sold by Towle & Co.

Towle & Co. reduced its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 44.1% in the first quarter, HoldingsChannel.com reports. The firm owned 216,138 shares of the business services provider’s stock after selling 170,674 shares during the period. Towle & Co.’s holdings in Healthcare Services Group were worth $4,009,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Healthcare Services Group by 46.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 553,663 shares of the business services provider’s stock worth $9,318,000 after buying an additional 175,880 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Healthcare Services Group in the 4th quarter worth about $1,008,000. Y Intercept Hong Kong Ltd lifted its stake in Healthcare Services Group by 616.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider’s stock valued at $1,377,000 after acquiring an additional 63,866 shares during the period. SG Americas Securities LLC lifted its stake in Healthcare Services Group by 298.1% during the 4th quarter. SG Americas Securities LLC now owns 43,739 shares of the business services provider’s stock valued at $836,000 after acquiring an additional 32,752 shares during the period. Finally, Horizon Investments LLC purchased a new stake in shares of Healthcare Services Group during the 4th quarter valued at about $631,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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. Weiss Ratings upgraded shares of Healthcare Services Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Royal Bank Of Canada lifted their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Finally, Benchmark boosted their target price on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Healthcare Services Group Stock Down 4.8%

NASDAQ HCSG opened at $22.42 on Friday. Healthcare Services Group, Inc. has a 52 week low of $12.84 and a 52 week high of $25.75. The firm has a market capitalization of $1.54 billion, a P/E ratio of 13.03 and a beta of 0.78. The company has a 50-day moving average price of $22.59 and a 200-day moving average price of $20.92.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million for the quarter, compared to the consensus estimate of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same quarter last year, the firm posted ($0.44) earnings per share. As a group, equities research analysts anticipate that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

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.