Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,363 shares of the business services provider’s stock after selling 13,353 shares during the quarter. Rhumbline Advisers owned about 0.29% of Healthcare Services Group worth $2,181,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HCSG. SBI Securities Co. Ltd. bought a new stake in Healthcare Services Group in the fourth quarter worth about $25,000. Sterling Capital Management LLC grew its stake in Healthcare Services Group by 803.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 2,097 shares in the last quarter. Ieq Capital LLC purchased a new position in Healthcare Services Group during the 4th quarter valued at about $118,000. Bank of Montreal Can purchased a new position in Healthcare Services Group during the 4th quarter valued at about $118,000. Finally, PharVision Advisers LLC purchased a new position in Healthcare Services Group during the 4th quarter valued at about $147,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $14.91 on Tuesday. The stock has a fifty day moving average price of $13.29 and a 200-day moving average price of $11.91. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 27.61 and a beta of 0.55. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $15.34.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $447.66 million for the quarter, compared to analyst estimates of $443.82 million. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. Healthcare Services Group’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. Research analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on HCSG. UBS Group raised Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Wall Street Zen upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Robert W. Baird upped their target price on Healthcare Services Group from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Macquarie increased their price objective on Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.80.

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.