UBS Group AG Acquires 84,545 Shares of Healthcare Services Group, Inc. $HCSG

UBS Group AG grew its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 67.1% in the 4th quarter, HoldingsChannel reports. The firm owned 210,489 shares of the business services provider’s stock after buying an additional 84,545 shares during the quarter. UBS Group AG’s holdings in Healthcare Services Group were worth $4,025,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Miller Global Investments LLC bought a new position in shares of Healthcare Services Group during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 1,356 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Healthcare Services Group by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after acquiring an additional 845 shares in the last quarter. Finally, LSV Asset Management bought a new position in shares of Healthcare Services Group during the 3rd quarter worth approximately $108,000. Institutional investors own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HCSG. Royal Bank Of Canada boosted their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. UBS Group boosted their price objective on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Healthcare Services Group Trading Up 1.1%

Shares of Healthcare Services Group stock opened at $20.43 on Friday. Healthcare Services Group, Inc. has a 12-month low of $12.66 and a 12-month high of $24.39. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 21.28 and a beta of 0.85. The firm’s 50 day simple moving average is $20.18 and its two-hundred day simple moving average is $19.59.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The business had revenue of $462.77 million for the quarter, compared to analyst estimates of $479.79 million. During the same quarter in the prior year, the business posted $0.23 EPS. Healthcare Services Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Healthcare Services Group, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the sale, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at $342,236.25. This represents a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

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.