Hsbc Holdings PLC Grows Holdings in Healthcare Services Group, Inc. $HCSG

Hsbc Holdings PLC increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 173.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,353 shares of the business services provider’s stock after purchasing an additional 36,367 shares during the period. Hsbc Holdings PLC owned 0.08% of Healthcare Services Group worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HCSG. Cetera Investment Advisers raised its holdings in shares of Healthcare Services Group by 4.3% in the fourth quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider’s stock valued at $269,000 after buying an additional 581 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Healthcare Services Group by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider’s stock worth $385,000 after buying an additional 738 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after buying an additional 845 shares during the last quarter. Farther Finance Advisors LLC increased 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 during the period. Finally, LPL Financial LLC increased its position in Healthcare Services Group by 8.2% in the 4th quarter. LPL Financial LLC now owns 11,802 shares of the business services provider’s stock valued at $226,000 after acquiring an additional 895 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $23.75 on Wednesday. Healthcare Services Group, Inc. has a 12 month low of $12.84 and a 12 month high of $25.75. The business has a 50-day moving average of $22.71 and a two-hundred day moving average of $21.01. The firm has a market capitalization of $1.63 billion, a PE ratio of 13.81 and a beta of 0.78.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $470.81 million for the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same period in the previous year, the company posted ($0.44) earnings per share. As a group, research analysts anticipate that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

HCSG has been the subject of several analyst reports. Zacks Research cut Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. BMO Capital Markets boosted their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada increased their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Thursday, April 23rd. UBS Group boosted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Benchmark upped their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.20.

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.