Maryland State Retirement & Pension System Trims Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Maryland State Retirement & Pension System decreased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,677 shares of the business services provider’s stock after selling 934 shares during the period. Maryland State Retirement & Pension System’s holdings in Healthcare Services Group were worth $272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in Healthcare Services Group by 131.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock worth $156,000 after purchasing an additional 8,359 shares during the last quarter. Azarias Capital Management L.P. increased its position in shares of Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after acquiring an additional 412,704 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Healthcare Services Group in the second quarter worth $124,000. Raymond James & Associates increased its position in shares of Healthcare Services Group by 9.2% in the second quarter. Raymond James & Associates now owns 383,864 shares of the business services provider’s stock worth $4,061,000 after acquiring an additional 32,411 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its position in shares of Healthcare Services Group by 1.7% in the second quarter. Stanley Laman Group Ltd. now owns 343,455 shares of the business services provider’s stock worth $3,634,000 after acquiring an additional 5,816 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Trading Down 0.2 %

HCSG opened at $10.78 on Thursday. The company has a fifty day simple moving average of $10.92 and a 200 day simple moving average of $11.31. The firm has a market cap of $793.90 million, a price-to-earnings ratio of 18.91 and a beta of 0.53. 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 posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $424.94 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that Healthcare Services Group, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HCSG shares. Robert W. Baird increased their price objective on shares of 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 reissued a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered their price target on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Company Profile

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.