Raymond James & Associates Cuts Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Raymond James & Associates decreased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,137 shares of the business services provider’s stock after selling 14,727 shares during the quarter. Raymond James & Associates owned approximately 0.50% of Healthcare Services Group worth $4,123,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Headlands Technologies LLC increased its holdings in Healthcare Services Group by 44.4% during the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after purchasing an additional 955 shares during the period. ProShare Advisors LLC increased its holdings in Healthcare Services Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,994 shares of the business services provider’s stock worth $187,000 after purchasing an additional 1,030 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Healthcare Services Group by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock worth $300,000 after purchasing an additional 1,311 shares during the period. PNC Financial Services Group Inc. increased its holdings in Healthcare Services Group by 38.3% during the 4th 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 period. Finally, ClariVest Asset Management LLC increased its holdings in Healthcare Services Group by 1.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock worth $1,611,000 after purchasing an additional 1,740 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

HCSG has been the subject of several analyst reports. Royal Bank of Canada lowered their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $11.15 on Friday. The stock has a 50-day simple moving average of $10.75 and a 200-day simple moving average of $10.85. The stock has a market cap of $817.19 million, a P/E ratio of 16.16 and a beta of 0.52. Healthcare Services Group, Inc. has a 1 year low of $8.98 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

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.