Confluence Investment Management LLC Buys Shares of 180,984 Healthcare Services Group, Inc. (NASDAQ:HCSG)

Confluence Investment Management LLC acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 180,984 shares of the business services provider’s stock, valued at approximately $2,259,000. Confluence Investment Management LLC owned about 0.25% of Healthcare Services Group at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HCSG. Barclays PLC raised its position in shares of Healthcare Services Group by 3.7% during the third quarter. Barclays PLC now owns 43,139 shares of the business services provider’s stock worth $450,000 after acquiring an additional 1,551 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Healthcare Services Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,488,356 shares of the business services provider’s stock valued at $15,524,000 after acquiring an additional 46,951 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Healthcare Services Group by 57.3% during the third quarter. WINTON GROUP Ltd now owns 24,722 shares of the business services provider’s stock worth $258,000 after buying an additional 9,005 shares in the last quarter. Aigen Investment Management LP grew its holdings in Healthcare Services Group by 88.5% during the third quarter. Aigen Investment Management LP now owns 59,488 shares of the business services provider’s stock worth $620,000 after buying an additional 27,923 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Healthcare Services Group by 24.1% during the third quarter. Hsbc Holdings PLC now owns 60,826 shares of the business services provider’s stock worth $639,000 after buying an additional 11,797 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Price Performance

NASDAQ HCSG traded down $0.10 during trading on Tuesday, reaching $10.24. The company’s stock had a trading volume of 60,143 shares, compared to its average volume of 525,011. The stock has a market capitalization of $754.18 million, a PE ratio of 18.07 and a beta of 0.51. The firm has a fifty day moving average of $11.06 and a 200 day moving average of $10.99. Healthcare Services Group, Inc. has a one year low of $8.75 and a one year high of $15.14.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $424.91 million. Healthcare Services Group had a return on equity of 11.44% and a net margin of 2.44%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. Research analysts expect that Healthcare Services Group, Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.50.

Healthcare Services Group 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.