Marathon Asset Management Ltd Reduces Holdings in Healthcare Services Group, Inc. $HCSG

Marathon Asset Management Ltd trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 856,431 shares of the business services provider’s stock after selling 83,210 shares during the period. Marathon Asset Management Ltd owned 1.22% of Healthcare Services Group worth $16,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HCSG. Miller Global Investments LLC purchased a new stake in shares of Healthcare Services Group in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position 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 during the period. Farther Finance Advisors LLC lifted its position in shares of Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares during the period. GAMMA Investing LLC lifted its position in shares of Healthcare Services Group by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after purchasing an additional 845 shares during the period. Finally, LSV Asset Management purchased a new stake in shares of Healthcare Services Group in the 3rd quarter worth about $108,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $20.79 on Wednesday. Healthcare Services Group, Inc. has a 1 year low of $12.66 and a 1 year high of $24.39. The stock has a market cap of $1.43 billion, a P/E ratio of 21.66 and a beta of 0.85. The firm has a 50-day moving average of $20.17 and a 200 day moving average of $19.55.

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 company had revenue of $462.77 million during the quarter, compared to analysts’ expectations of $479.79 million. During the same period last year, the company posted $0.23 EPS. Healthcare Services Group’s revenue was up 3.4% on a year-over-year basis. Research analysts expect that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCSG has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. UBS Group raised their target price 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. 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. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Finally, BMO Capital Markets lifted their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, CAO Andrew M. Brophy sold 2,490 shares of Healthcare Services Group stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the transaction, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

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.