Healthcare Services Group, Inc. $HCSG Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC trimmed its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,381 shares of the business services provider’s stock after selling 22,916 shares during the period. Bridge City Capital LLC owned about 0.20% of Healthcare Services Group worth $2,741,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Healthcare Services Group by 46.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 553,663 shares of the business services provider’s stock worth $9,318,000 after buying an additional 175,880 shares in the last quarter. Legato Capital Management LLC raised its holdings in Healthcare Services Group by 45.2% during the third quarter. Legato Capital Management LLC now owns 144,950 shares of the business services provider’s stock worth $2,440,000 after purchasing an additional 45,133 shares during the last quarter. American Century Companies Inc. grew its holdings in Healthcare Services Group by 38.1% during the 3rd quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after buying an additional 487,608 shares during the last quarter. 8 Knots Management LLC acquired a new stake in Healthcare Services Group during the 3rd quarter valued at $56,527,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Healthcare Services Group by 22.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 443,310 shares of the business services provider’s stock valued at $7,461,000 after buying an additional 81,670 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Trading Up 3.7%

Shares of HCSG opened at $22.38 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 23.31 and a beta of 0.82. The stock’s fifty day simple moving average is $20.64 and its 200 day simple moving average is $19.92. Healthcare Services Group, Inc. has a twelve month low of $12.66 and a twelve month high of $24.39.

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

Analysts Set New Price Targets

A number of brokerages have commented on HCSG. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Benchmark raised their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. BMO Capital Markets raised their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Finally, Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.

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.