Ritholtz Wealth Management Acquires 103,161 Shares of Healthcare Services Group, Inc. $HCSG

Ritholtz Wealth Management boosted its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 195.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,860 shares of the business services provider’s stock after buying an additional 103,161 shares during the period. Ritholtz Wealth Management owned approximately 0.23% of Healthcare Services Group worth $2,891,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HCSG. Miller Global Investments LLC bought a new stake in shares of Healthcare Services Group during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Healthcare Services Group in the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its position in Healthcare Services Group by 163.4% in the 2nd 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. Farther Finance Advisors LLC lifted its position in Healthcare Services Group by 32.0% in the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 877 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 last quarter. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $24.30 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 25.32 and a beta of 0.82. Healthcare Services Group, Inc. has a 52 week low of $12.66 and a 52 week high of $24.52. The firm has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $20.21.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. UBS Group lifted their target price 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Finally, BMO Capital Markets increased their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.