Hussman Strategic Advisors Inc. Invests $1.41 Million in Healthcare Services Group, Inc. $HCSG

Hussman Strategic Advisors Inc. purchased a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,000 shares of the business services provider’s stock, valued at approximately $1,414,000. Hussman Strategic Advisors Inc. owned approximately 0.12% of Healthcare Services Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HCSG. EverSource Wealth Advisors LLC increased its holdings in shares of Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares in the last quarter. GAMMA Investing LLC increased its holdings in Healthcare Services Group by 94.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after buying an additional 1,384 shares in the last quarter. USA Financial Formulas purchased a new position in Healthcare Services Group in the 2nd quarter worth about $60,000. Tower Research Capital LLC TRC lifted its stake in Healthcare Services Group by 600.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 8,795 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Healthcare Services Group during the 2nd quarter valued at about $156,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $18.55 on Thursday. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $20.26. The business has a fifty day moving average price of $18.98 and a 200-day moving average price of $16.92. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 34.35 and a beta of 0.71.

Analyst Ratings Changes

Several research analysts have recently weighed in on HCSG shares. Benchmark boosted their price objective on shares of Healthcare Services Group from $19.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Macquarie reissued a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. UBS Group reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Finally, BMO Capital Markets started coverage on Healthcare Services Group in a research report on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.40.

About Healthcare Services Group

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.