Sovereign s Capital Management LLC Lowers Stock Position in Healthcare Services Group, Inc. $HCSG

Sovereign s Capital Management LLC lessened its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 53.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,856 shares of the business services provider’s stock after selling 131,584 shares during the quarter. Healthcare Services Group makes up 1.4% of Sovereign s Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Sovereign s Capital Management LLC’s holdings in Healthcare Services Group were worth $2,234,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. 8 Knots Management LLC purchased a new position in Healthcare Services Group during the third quarter worth about $56,527,000. Ameriprise Financial Inc. boosted its stake in Healthcare Services Group by 80.2% during the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after buying an additional 882,213 shares during the period. American Century Companies Inc. boosted its stake in Healthcare Services Group by 38.1% during the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock worth $29,732,000 after buying an additional 487,608 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Healthcare Services Group by 12.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock worth $28,209,000 after buying an additional 158,261 shares during the period. Finally, Nuveen LLC boosted its stake in Healthcare Services Group by 29.2% during the fourth quarter. Nuveen LLC now owns 1,282,492 shares of the business services provider’s stock worth $24,521,000 after buying an additional 290,019 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HCSG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Tuesday, June 2nd. UBS Group increased their price target on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. William Blair raised shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. BMO Capital Markets increased their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Finally, Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Healthcare Services Group Stock Performance

Shares of HCSG opened at $22.56 on Wednesday. The stock has a market capitalization of $1.55 billion, a PE ratio of 23.50 and a beta of 0.82. Healthcare Services Group, Inc. has a 1 year low of $12.66 and a 1 year high of $24.39. The company’s 50-day simple moving average is $20.80 and its 200-day simple moving average is $19.98.

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, topping the consensus estimate of $0.22 by $0.15. The business had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, sell-side analysts predict that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

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.