Financial Management Professionals Inc. Grows Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Financial Management Professionals Inc. boosted its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 85.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,180 shares of the business services provider’s stock after purchasing an additional 3,774 shares during the period. Financial Management Professionals Inc.’s holdings in Healthcare Services Group were worth $91,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Healthcare Services Group during the 1st quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its stake in shares of Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,714 shares during the period. Bleakley Financial Group LLC bought a new position in Healthcare Services Group during the 3rd quarter valued at about $116,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Healthcare Services Group in the 2nd quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Healthcare Services Group by 131.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock worth $156,000 after purchasing an additional 8,359 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Up 0.4 %

Shares of NASDAQ:HCSG opened at $10.74 on Friday. The business’s 50 day moving average is $10.72 and its 200 day moving average is $10.87. The stock has a market cap of $788.10 million, a P/E ratio of 24.98 and a beta of 0.52. Healthcare Services Group, Inc. has a 52-week low of $8.94 and a 52-week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 12.58% and a net margin of 1.82%. The business’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, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.