8 Knots Management LLC Lowers Position in Healthcare Services Group, Inc. $HCSG

8 Knots Management LLC decreased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 52.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,592,565 shares of the business services provider’s stock after selling 1,766,116 shares during the quarter. Healthcare Services Group comprises about 3.5% of 8 Knots Management LLC’s holdings, making the stock its 8th biggest position. 8 Knots Management LLC’s holdings in Healthcare Services Group were worth $30,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Healthcare Services Group by 3.7% during the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock valued at $1,402,000 after buying an additional 4,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Healthcare Services Group by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock valued at $441,000 after buying an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Healthcare Services Group during the first quarter valued at approximately $242,000. Jane Street Group LLC increased its holdings in Healthcare Services Group by 962.0% during the first quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock valued at $2,017,000 after buying an additional 181,242 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Healthcare Services Group by 19.4% in the second quarter. Invesco Ltd. now owns 747,822 shares of the business services provider’s stock worth $11,240,000 after purchasing an additional 121,263 shares in the last quarter. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG opened at $22.38 on Friday. Healthcare Services Group, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.39. The company has a fifty day moving average of $20.64 and a 200 day moving average of $19.92. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 23.31 and a beta of 0.82.

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

Wall Street Analyst Weigh In

HCSG has been the subject of a number of analyst reports. UBS Group increased their price objective on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Benchmark increased their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada increased their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Healthcare Services Group in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.