First Eagle Investment Management LLC Sells 38,700 Shares of Healthcare Services Group, Inc. $HCSG

First Eagle Investment Management LLC reduced its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 6.5% during the 3rd quarter, Holdings Channel reports. The fund owned 560,148 shares of the business services provider’s stock after selling 38,700 shares during the period. First Eagle Investment Management LLC’s holdings in Healthcare Services Group were worth $9,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Healthcare Services Group by 38.1% in the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after purchasing an additional 487,608 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Healthcare Services Group by 74.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,816 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,630 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Healthcare Services Group by 22.6% in 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 in the last quarter. Jupiter Asset Management Ltd. increased its position in Healthcare Services Group by 7.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 139,056 shares of the business services provider’s stock worth $2,340,000 after buying an additional 9,248 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Healthcare Services Group during the third quarter worth $2,480,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, February 12th. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. Finally, UBS Group set a $25.00 price target on Healthcare Services Group and gave the company a “buy” rating in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Trading Down 4.1%

Shares of Healthcare Services Group stock opened at $21.30 on Wednesday. The company has a market cap of $1.50 billion, a PE ratio of 25.98 and a beta of 0.73. The company has a 50 day moving average of $19.76 and a 200-day moving average of $18.08. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.23 by $0.21. The business had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Research analysts forecast that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In other Healthcare Services Group news, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the transaction, the chief accounting officer owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Orr sold 44,615 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total transaction of $915,945.95. The SEC filing for this sale provides additional information. Insiders sold a total of 146,962 shares of company stock worth $3,014,100 in the last ninety days. 2.10% of the stock is owned by insiders.

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.