Corient Private Wealth LLC Sells 107,763 Shares of Healthcare Services Group, Inc. $HCSG

Corient Private Wealth LLC decreased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 49.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 108,979 shares of the business services provider’s stock after selling 107,763 shares during the quarter. Corient Private Wealth LLC owned 0.15% of Healthcare Services Group worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Healthcare Services Group by 1.7% in the first quarter. Hsbc Holdings PLC now owns 53,175 shares of the business services provider’s stock valued at $539,000 after buying an additional 868 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Healthcare Services Group by 6.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,721 shares of the business services provider’s stock valued at $281,000 after acquiring an additional 1,135 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Healthcare Services Group by 8.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,925 shares of the business services provider’s stock valued at $239,000 after acquiring an additional 1,224 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,356 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its position in Healthcare Services Group by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 75,317 shares of the business services provider’s stock worth $1,132,000 after acquiring an additional 1,476 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analyst Ratings Changes

HCSG has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Healthcare Services Group in a research report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 price objective for the company. Zacks Research cut Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. 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 report on Thursday, October 23rd. UBS Group restated a “buy” rating on shares of Healthcare Services Group in a research report on Monday, November 24th. Finally, Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.40.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $19.58 on Wednesday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 36.26 and a beta of 0.75. The company has a 50 day moving average of $18.25 and a 200-day moving average of $16.13. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $20.26.

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

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.