Archon Capital Management LLC Sells 180,000 Shares of Healthcare Services Group, Inc. $HCSG

Archon Capital Management LLC trimmed its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 53.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,940 shares of the business services provider’s stock after selling 180,000 shares during the quarter. Healthcare Services Group comprises about 1.9% of Archon Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Archon Capital Management LLC owned approximately 0.21% of Healthcare Services Group worth $2,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Healthcare Services Group by 45.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,592 shares of the business services provider’s stock worth $147,000 after purchasing an additional 4,548 shares in the last quarter. US Bancorp DE boosted its stake in shares of Healthcare Services Group by 161.4% in the first quarter. US Bancorp DE now owns 8,097 shares of the business services provider’s stock valued at $82,000 after buying an additional 5,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Healthcare Services Group by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 965,843 shares of the business services provider’s stock worth $9,736,000 after buying an additional 74,476 shares in the last quarter. National Bank of Canada FI increased its stake in Healthcare Services Group by 13.3% during the 1st quarter. National Bank of Canada FI now owns 28,900 shares of the business services provider’s stock worth $291,000 after acquiring an additional 3,386 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Healthcare Services Group by 54.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 181,169 shares of the business services provider’s stock worth $1,826,000 after acquiring an additional 64,042 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HCSG shares. Macquarie reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. UBS Group reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Monday, November 24th. Benchmark increased their price objective on shares of Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Zacks Research cut shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.40.

Healthcare Services Group Stock Down 0.1%

Healthcare Services Group stock opened at $18.79 on Friday. The stock has a market cap of $1.32 billion, a PE ratio of 34.80 and a beta of 0.75. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $20.00. The business’s 50-day moving average price is $17.47 and its two-hundred day moving average price is $15.67.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $464.34 million for the quarter, compared to the consensus estimate of $460.36 million. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. As a group, analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share 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.