Healthcare Services Group, Inc. $HCSG Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 14.8% in the third quarter, Holdings Channel.com reports. The fund owned 253,936 shares of the business services provider’s stock after selling 44,268 shares during the period. Pacer Advisors Inc.’s holdings in Healthcare Services Group were worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HCSG. EverSource Wealth Advisors LLC boosted its holdings in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares during the period. GAMMA Investing LLC lifted its position in shares of Healthcare Services Group by 94.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after buying an additional 1,384 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Healthcare Services Group in the 2nd quarter valued at about $60,000. Tower Research Capital LLC TRC boosted its holdings in shares of Healthcare Services Group by 600.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock valued at $154,000 after buying an additional 8,795 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Healthcare Services Group during the 2nd quarter valued at about $156,000. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HCSG has been the topic of a number of recent research reports. Benchmark raised their target price on shares of Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. UBS Group reissued a “buy” rating on shares of Healthcare Services Group in a report on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Healthcare Services Group in a research note on Monday, December 15th. Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, BMO Capital Markets initiated coverage on shares of Healthcare Services Group in a report on Thursday, November 13th. They set a “market perform” rating and a $20.00 price target for the company. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.40.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $19.87 on Tuesday. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $20.26. The business’s fifty day moving average price is $18.51 and its two-hundred day moving average price is $16.27. The company has a market capitalization of $1.40 billion, a P/E ratio of 36.80 and a beta of 0.75.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Healthcare Services Group had a return on equity of 12.23% and a net margin of 2.20%.The company had revenue of $464.34 million during the quarter, compared to analysts’ expectations of $460.36 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal 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.