Hsbc Holdings PLC Takes $1.15 Million Position in Healthcare Services Group, Inc. $HCSG

Hsbc Holdings PLC acquired a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 46,676 shares of the business services provider’s stock, valued at approximately $1,152,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in Healthcare Services Group by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 581 shares during the period. Sanctuary Advisors LLC increased its stake in Healthcare Services Group by 3.8% in the 4th quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after purchasing an additional 738 shares during the period. Farther Finance Advisors LLC increased its stake in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares during the period. LPL Financial LLC lifted its position in Healthcare Services Group by 8.2% in the fourth quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock valued at $226,000 after purchasing an additional 895 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Healthcare Services Group by 0.5% in the third quarter. Legal & General Group Plc now owns 200,393 shares of the business services provider’s stock valued at $3,373,000 after purchasing an additional 970 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HCSG shares. Wall Street Zen lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Oppenheimer assumed coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price target for the company. UBS Group increased their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Healthcare Services Group presently has an average rating of “Moderate Buy” and an average price target of $26.50.

Insider Activity at Healthcare Services Group

In related news, COO Andrew Kush sold 15,598 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the transaction, the chief operating officer owned 22,741 shares in the company, valued at $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Healthcare Services Group Price Performance

HCSG opened at $21.99 on Tuesday. The business has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $21.58. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.78 and a beta of 0.81. Healthcare Services Group, Inc. has a one year low of $15.13 and a one year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same quarter last year, the business posted ($0.44) EPS. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 1.14 EPS for the current fiscal year.

Healthcare Services Group Company 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.