SG Americas Securities LLC Cuts Stock Holdings in Healthcare Services Group, Inc. $HCSG

SG Americas Securities LLC trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 48.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,641 shares of the business services provider’s stock after selling 21,098 shares during the period. SG Americas Securities LLC’s holdings in Healthcare Services Group were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HCSG. Miller Global Investments LLC bought a new stake in Healthcare Services Group during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Healthcare Services Group during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in shares of Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,356 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after buying an additional 877 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Healthcare Services Group by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after acquiring an additional 845 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HCSG has been the subject of several research reports. BMO Capital Markets upped their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Zacks Research downgraded Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Tuesday, June 2nd. Benchmark upped 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. Finally, Royal Bank Of Canada increased their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $23.89 on Thursday. Healthcare Services Group, Inc. has a 52-week low of $12.66 and a 52-week high of $25.75. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 24.89 and a beta of 0.78. The company has a fifty day moving average of $22.08 and a 200-day moving average of $20.54.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. The company had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Healthcare Services Group 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.