Hsbc Holdings PLC Acquires New Stake in Healthcare Services Group, Inc. $HCSG

Hsbc Holdings PLC purchased a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,986 shares of the business services provider’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HCSG. Cetera Investment Advisers raised its position in Healthcare Services Group by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock valued at $269,000 after purchasing an additional 581 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Healthcare Services Group by 3.8% in the fourth quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 738 shares in the last quarter. GAMMA Investing LLC raised its holdings in Healthcare Services Group by 29.7% in the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 845 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Healthcare Services Group by 32.0% in the fourth 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 during the last quarter. Finally, LPL Financial LLC grew its holdings in Healthcare Services Group by 8.2% during the 4th quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock worth $226,000 after acquiring an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG stock opened at $25.31 on Friday. The stock has a market capitalization of $1.74 billion, a PE ratio of 26.36 and a beta of 0.78. The company has a fifty day moving average of $22.43 and a 200-day moving average of $20.77. Healthcare Services Group, Inc. has a one year low of $12.66 and a one year high of $25.75.

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

Wall Street Analysts Forecast Growth

HCSG has been the subject of several analyst reports. Weiss Ratings raised Healthcare Services Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. BMO Capital Markets boosted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Finally, Benchmark increased their price target on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

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.