Lisanti Capital Growth LLC Makes New $3.24 Million Investment in Healthcare Services Group, Inc. $HCSG

Lisanti Capital Growth LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, HoldingsChannel reports. The fund bought 131,800 shares of the business services provider’s stock, valued at approximately $3,237,000.

A number of other institutional investors have also made changes to their positions in HCSG. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Healthcare Services Group during the 4th quarter valued at approximately $33,000. KBC Group NV acquired a new position in Healthcare Services Group in the first quarter worth $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Healthcare Services Group by 163.4% during the second 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 raised its holdings in shares of Healthcare Services Group by 32.0% during the fourth 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. Finally, OP Asset Management Ltd bought a new position in shares of Healthcare Services Group in the 1st quarter worth about $168,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HCSG. Wall Street Zen lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada lifted their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. BMO Capital Markets upped their target price on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Oppenheimer began coverage on Healthcare Services Group in a research report on Wednesday. They set an “outperform” rating and a $28.00 price target on the stock. Finally, UBS Group raised their price target on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.50.

Healthcare Services Group Stock Up 4.5%

Healthcare Services Group stock opened at $22.93 on Thursday. The firm has a 50-day moving average price of $23.26 and a two-hundred day moving average price of $21.38. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 13.33 and a beta of 0.81. Healthcare Services Group, Inc. has a 52-week low of $15.11 and a 52-week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The company had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. During the same quarter last year, the business earned ($0.44) earnings per share. Research analysts expect that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current year.

Insider Activity

In related news, COO Andrew Kush sold 15,598 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the transaction, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at $528,500.84. This represents a 40.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Healthcare Services Group Company 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.