Public Sector Pension Investment Board Increases Holdings in Healthcare Services Group, Inc. $HCSG

Public Sector Pension Investment Board grew its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 35.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 336,483 shares of the business services provider’s stock after acquiring an additional 87,847 shares during the quarter. Public Sector Pension Investment Board’s holdings in Healthcare Services Group were worth $5,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management acquired a new position in Healthcare Services Group in the third quarter valued at approximately $108,000. Allianz Asset Management GmbH raised its stake in Healthcare Services Group by 229.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 164,380 shares of the business services provider’s stock worth $2,767,000 after acquiring an additional 114,482 shares in the last quarter. State of Wyoming lifted its position in Healthcare Services Group by 230.3% in the third quarter. State of Wyoming now owns 51,949 shares of the business services provider’s stock valued at $874,000 after acquiring an additional 36,221 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Healthcare Services Group by 26.6% in the third quarter. Principal Financial Group Inc. now owns 457,752 shares of the business services provider’s stock valued at $7,704,000 after acquiring an additional 96,103 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Healthcare Services Group during the third quarter worth about $1,414,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Monday, December 29th. Robert W. Baird set a $23.00 price objective on shares of Healthcare Services Group in a research note on Thursday, February 12th. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Wall Street Zen raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $22.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Hold” and an average target price of $22.00.

Healthcare Services Group Stock Down 3.1%

Shares of HCSG stock opened at $20.29 on Thursday. The stock has a market cap of $1.43 billion, a P/E ratio of 24.74 and a beta of 0.74. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $22.98. The business has a fifty day simple moving average of $19.41 and a 200-day simple moving average of $17.63.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.21. The company had revenue of $466.68 million for the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.