Trail Ridge Investment Advisors LLC Invests $625,000 in Healthcare Services Group, Inc. $HCSG

Trail Ridge Investment Advisors LLC purchased a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 25,448 shares of the business services provider’s stock, valued at approximately $625,000.

Several other institutional investors have also added to or reduced their stakes in HCSG. Empowered Funds LLC grew its stake in shares of Healthcare Services Group by 123.6% in the first quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock valued at $4,004,000 after acquiring an additional 119,290 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Healthcare Services Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock worth $44,534,000 after purchasing an additional 62,689 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Healthcare Services Group by 616.2% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider’s stock worth $1,377,000 after purchasing an additional 63,866 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Healthcare Services Group by 5.5% in the 1st quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock valued at $16,510,000 after purchasing an additional 46,427 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Healthcare Services Group by 454.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after purchasing an additional 1,152,176 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HCSG has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. UBS Group boosted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Oppenheimer began coverage on Healthcare Services Group in a report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Insider Activity

In related news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at $528,500.84. This trade represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Healthcare Services Group Stock Up 0.1%

Shares of Healthcare Services Group stock opened at $22.80 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 13.26 and a beta of 0.81. Healthcare Services Group, Inc. has a 12-month low of $15.13 and a 12-month high of $25.75. The firm’s 50-day moving average price is $23.31 and its two-hundred day moving average price is $21.46.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. The firm had revenue of $470.81 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.44) EPS. On average, sell-side analysts expect that Healthcare Services Group, Inc. will post 1.14 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.