Royce & Associates LP Cuts Stock Position in Healthcare Services Group, Inc. $HCSG

Royce & Associates LP lessened its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,292,895 shares of the business services provider’s stock after selling 572,102 shares during the period. Royce & Associates LP owned 3.25% of Healthcare Services Group worth $43,840,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 1,356 shares during the period. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 877 shares during the period. GAMMA Investing LLC raised its stake 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 valued at $71,000 after purchasing an additional 845 shares during the period. Finally, LSV Asset Management bought a new stake in shares of Healthcare Services Group during the 3rd quarter valued at $108,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HCSG shares. Benchmark boosted their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. William Blair upgraded Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Robert W. Baird set a $23.00 target price on Healthcare Services Group in a research note on Thursday, February 12th. UBS Group lifted their price target on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insider Activity at Healthcare Services Group

In other news, CAO Andrew M. Brophy sold 2,490 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the completion of the transaction, the chief accounting officer owned 15,735 shares in the company, valued at $342,236.25. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by insiders.

Healthcare Services Group Price Performance

HCSG opened at $20.43 on Tuesday. The stock’s 50 day simple moving average is $20.20 and its 200 day simple moving average is $19.62. Healthcare Services Group, Inc. has a 1 year low of $12.66 and a 1 year high of $24.39. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 21.28 and a beta of 0.85.

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