Healthcare Services Group, Inc. $HCSG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 58.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,353 shares of the business services provider’s stock after selling 42,051 shares during the period. Intech Investment Management LLC’s holdings in Healthcare Services Group were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 valued at $33,000 after acquiring an additional 1,356 shares in the last quarter. GAMMA Investing LLC increased its position in Healthcare Services Group by 94.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,384 shares during the period. LSV Asset Management purchased a new position in shares of Healthcare Services Group during the 3rd quarter worth approximately $108,000. Tower Research Capital LLC TRC lifted 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 acquired a new position in Healthcare Services Group during the second quarter worth $156,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Healthcare Services Group

In related news, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were 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 of the company’s stock, valued at approximately $342,236.25. The trade was a 13.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares in the company, valued at approximately $597,849.72. This trade represents a 64.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,962 shares of company stock valued at $3,014,100 over the last three months. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on HCSG. BMO Capital Markets reissued a “market perform” rating and issued a $22.00 target price on shares of Healthcare Services Group in a report on Thursday, February 12th. Macquarie Infrastructure reiterated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research report on Thursday, February 12th. Finally, UBS Group set a $25.00 price target on Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, February 12th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and an average price target of $22.00.

Healthcare Services Group Trading Down 0.5%

NASDAQ:HCSG opened at $20.04 on Thursday. The company has a market capitalization of $1.41 billion, a P/E ratio of 24.44 and a beta of 0.73. The firm has a 50-day moving average price of $19.88 and a two-hundred day moving average price of $18.28. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results 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. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The business had revenue of $466.68 million for the quarter, compared to analyst estimates of $467.24 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share 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.