Sei Investments Co. Purchases 149,570 Shares of Healthcare Services Group, Inc. $HCSG

Sei Investments Co. increased its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 66.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375,130 shares of the business services provider’s stock after acquiring an additional 149,570 shares during the quarter. Sei Investments Co.’s holdings in Healthcare Services Group were worth $6,959,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Healthcare Services Group by 3.7% in the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 4,917 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Healthcare Services Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 1,824 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Healthcare Services Group during the 1st quarter valued at about $242,000. Jane Street Group LLC boosted its stake in shares of Healthcare Services Group by 962.0% in the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock valued at $2,017,000 after purchasing an additional 181,242 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Healthcare Services Group by 19.4% in the 2nd quarter. Invesco Ltd. now owns 747,822 shares of the business services provider’s stock valued at $11,240,000 after purchasing an additional 121,263 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HCSG shares. Benchmark lifted their price target on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada raised 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. Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. BMO Capital Markets upped their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $23.41 on Tuesday. Healthcare Services Group, Inc. has a 52 week low of $13.06 and a 52 week high of $25.75. The stock’s 50 day moving average price is $22.93 and its two-hundred day moving average price is $21.13. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 13.61 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The company had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. During the same period last year, the business earned ($0.44) EPS. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS 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.