Franklin Resources Inc. Grows Stock Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Franklin Resources Inc. lifted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 39.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 560,588 shares of the business services provider’s stock after buying an additional 159,878 shares during the period. Franklin Resources Inc. owned approximately 0.76% of Healthcare Services Group worth $5,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC purchased a new stake in shares of Healthcare Services Group during the 3rd quarter valued at $9,166,000. Foundry Partners LLC increased its position in Healthcare Services Group by 86.5% during the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after buying an additional 374,301 shares in the last quarter. Royce & Associates LP increased its position in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after buying an additional 290,621 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in Healthcare Services Group in the third quarter valued at about $3,217,000. Finally, State Street Corp boosted its holdings in Healthcare Services Group by 8.3% in the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock worth $33,112,000 after acquiring an additional 226,818 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $11.30 on Monday. The stock’s 50 day simple moving average is $11.65 and its 200-day simple moving average is $11.08. The company has a market cap of $828.19 million, a PE ratio of 16.38 and a beta of 0.55. Healthcare Services Group, Inc. has a 1-year low of $8.98 and a 1-year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. Healthcare Services Group’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 EPS. On average, equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 14th. Robert W. Baird lowered their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday. Finally, Macquarie initiated coverage on Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.80.

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.