Persistent Asset Partners Ltd Purchases Shares of 147,367 Healthcare Services Group, Inc. $HCSG

Persistent Asset Partners Ltd acquired a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 147,367 shares of the business services provider’s stock, valued at approximately $2,480,000. Healthcare Services Group accounts for 1.7% of Persistent Asset Partners Ltd’s portfolio, making the stock its 13th biggest position. Persistent Asset Partners Ltd owned about 0.21% of Healthcare Services Group at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Healthcare Services Group by 163.4% during 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 shares of Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,384 shares during the last quarter. LSV Asset Management bought a new position in shares of Healthcare Services Group in the third quarter valued at approximately $108,000. Tower Research Capital LLC TRC lifted its position 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 worth $154,000 after acquiring an additional 8,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Healthcare Services Group during the 2nd quarter valued at approximately $156,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Stock Down 0.3%

Shares of HCSG stock opened at $20.22 on Friday. The business has a fifty day simple moving average of $19.42 and a 200 day simple moving average of $17.64. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $22.98. The company has a market cap of $1.42 billion, a P/E ratio of 24.66 and a beta of 0.74.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. Robert W. Baird set a $23.00 target price on shares of Healthcare Services Group in a research note on Thursday, February 12th. William Blair raised Healthcare Services Group to an “outperform” rating in a research note on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Monday, December 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Insider Buying and Selling

In other news, EVP John Christopher Shea sold 54,357 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. This represents a 64.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Orr sold 45,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.54, for a total transaction of $934,570.00. Following the sale, the executive vice president directly owned 44,615 shares in the company, valued at $916,392.10. The trade was a 50.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

Healthcare Services Group Profile

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.