Royce & Associates LP Acquires 290,621 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Royce & Associates LP increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,449,496 shares of the business services provider’s stock after purchasing an additional 290,621 shares during the quarter. Royce & Associates LP owned approximately 0.06% of Healthcare Services Group worth $49,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Healthcare Services Group during the 1st quarter valued at approximately $27,000. Farther Finance Advisors LLC boosted its position in shares of Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares during the last quarter. Financial Management Professionals Inc. grew its stake in Healthcare Services Group by 85.7% during the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock valued at $91,000 after acquiring an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Healthcare Services Group in the 3rd quarter valued at $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Healthcare Services Group in the 2nd quarter worth $124,000. Institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Healthcare Services Group Trading Down 2.1 %

Shares of NASDAQ HCSG opened at $11.93 on Friday. Healthcare Services Group, Inc. has a 12-month low of $8.98 and a 12-month high of $13.00. The firm’s 50-day moving average price is $10.91 and its 200-day moving average price is $10.86. The stock has a market capitalization of $874.35 million, a price-to-earnings ratio of 17.29 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data 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 business had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. On average, equities analysts predict that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

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.