Citigroup Inc. Has $2.41 Million Holdings in Healthcare Services Group, Inc. $HCSG

Citigroup Inc. cut its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,162 shares of the business services provider’s stock after selling 34,590 shares during the period. Citigroup Inc. owned approximately 0.20% of Healthcare Services Group worth $2,409,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in Healthcare Services Group by 240.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after buying an additional 1,056,705 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Healthcare Services Group by 183.0% during the 2nd quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock worth $19,223,000 after acquiring an additional 827,057 shares in the last quarter. CSM Advisors LLC acquired a new position in shares of Healthcare Services Group during the 2nd quarter valued at about $8,864,000. Qube Research & Technologies Ltd increased its holdings in shares of Healthcare Services Group by 1,116.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock valued at $6,746,000 after acquiring an additional 411,908 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Healthcare Services Group in the 2nd quarter valued at approximately $5,435,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Stock Down 1.6%

Shares of NASDAQ:HCSG opened at $20.65 on Friday. The business has a 50 day moving average price of $19.84 and a 200 day moving average price of $18.18. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $22.98. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 25.18 and a beta of 0.73.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. During the same period in the previous year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Insider Transactions at Healthcare Services Group

In related news, EVP Patrick J. Orr sold 44,615 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.53, for a total transaction of $915,945.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the sale, the executive vice president directly owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 146,962 shares of company stock worth $3,014,100. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Royal Bank Of Canada initiated coverage on shares of Healthcare Services Group in a research note on Tuesday, March 3rd. They issued a “sector perform” rating and a $22.00 price objective for the company. Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday, February 12th. Finally, Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Company Profile

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.