CWA Asset Management Group LLC Invests $1.38 Million in Healthcare Services Group, Inc. $HCSG

CWA Asset Management Group LLC bought a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 81,956 shares of the business services provider’s stock, valued at approximately $1,379,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Synergy Asset Management LLC purchased a new stake in shares of Healthcare Services Group in the 3rd quarter worth $2,860,000. Trail Ridge Investment Advisors LLC lifted its position in shares of Healthcare Services Group by 2.6% in the third quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after acquiring an additional 609 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Healthcare Services Group by 38.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 345,332 shares of the business services provider’s stock worth $5,812,000 after acquiring an additional 96,472 shares during the period. CWM LLC grew its position in shares of Healthcare Services Group by 113.7% during the third quarter. CWM LLC now owns 52,650 shares of the business services provider’s stock worth $886,000 after purchasing an additional 28,016 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,384 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG stock opened at $18.87 on Wednesday. The firm has a fifty day moving average price of $18.54 and a 200 day moving average price of $16.45. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $20.26. The firm has a market cap of $1.33 billion, a PE ratio of 34.95 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HCSG shares. Wall Street Zen downgraded Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 14th. Benchmark boosted their target price on shares of Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Zacks Research cut shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. UBS Group reiterated a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.40.

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.