SG Americas Securities LLC Takes $188,000 Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

SG Americas Securities LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,740 shares of the business services provider’s stock, valued at approximately $188,000.

Several other hedge funds also recently made changes to their positions in HCSG. Headlands Technologies LLC bought a new stake in Healthcare Services Group in the 1st quarter worth $27,000. Financial Management Professionals Inc. purchased a new stake in shares of Healthcare Services Group during the first quarter worth about $55,000. PNC Financial Services Group Inc. grew its stake in shares of Healthcare Services Group by 38.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,714 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Healthcare Services Group by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 14,586 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 1,795 shares during the period. Finally, CWM LLC increased its holdings in Healthcare Services Group by 12.9% during the 1st quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 1,411 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HCSG has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reduced their price objective on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Stock Up 3.4 %

NASDAQ HCSG opened at $10.91 on Friday. The firm has a market capitalization of $803.48 million, a PE ratio of 19.14 and a beta of 0.53. The stock’s 50 day moving average is $10.82 and its 200 day moving average is $11.28. Healthcare Services Group, Inc. has a twelve month low of $8.75 and a twelve month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $426.30 million for the quarter, compared to analysts’ expectations of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. On average, research analysts anticipate that Healthcare Services Group, Inc. will post 0.56 earnings per share for the current year.

About Healthcare Services Group

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.