Healthcare Services Group, Inc. $HCSG Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lowered its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 31.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,287 shares of the business services provider’s stock after selling 93,886 shares during the quarter. Rice Hall James & Associates LLC owned 0.28% of Healthcare Services Group worth $3,421,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HCSG. EverSource Wealth Advisors LLC increased its stake in 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Healthcare Services Group by 94.9% in the third quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,384 shares during the last quarter. USA Financial Formulas acquired a new position in Healthcare Services Group in the 2nd quarter worth about $60,000. Tower Research Capital LLC TRC increased its holdings in Healthcare Services Group by 600.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock worth $154,000 after buying an additional 8,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Healthcare Services Group during the 2nd quarter valued at $156,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HCSG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Healthcare Services Group in a research note on Monday, December 15th. BMO Capital Markets began coverage on shares of Healthcare Services Group in a research note on Thursday, November 13th. They issued a “market perform” rating and a $20.00 target price for the company. Wall Street Zen lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. UBS Group restated a “buy” rating on shares of Healthcare Services Group in a research note on Monday, November 24th. Finally, Macquarie reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Healthcare Services Group has a consensus rating of “Hold” and an average target price of $19.40.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $19.63 on Friday. The business has a 50 day simple moving average of $18.44 and a 200 day simple moving average of $16.22. The company has a market capitalization of $1.38 billion, a PE ratio of 36.35 and a beta of 0.75. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $20.26.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $464.34 million during the quarter, compared to analyst estimates of $460.36 million. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. Equities analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

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.