MQS Management LLC Buys New Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

MQS Management LLC purchased a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 24,233 shares of the business services provider’s stock, valued at approximately $256,000.

A number of other large investors also recently modified their holdings of HCSG. Headlands Technologies LLC bought a new position in Healthcare Services Group during the first quarter worth $27,000. Financial Management Professionals Inc. acquired a new stake in Healthcare Services Group in the 1st quarter worth $55,000. PNC Financial Services Group Inc. increased its holdings in shares of Healthcare Services Group by 38.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,714 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Healthcare Services Group during the second quarter valued at about $124,000. Finally, CWM LLC lifted its stake in shares of Healthcare Services Group by 12.9% in the first quarter. CWM LLC now owns 12,357 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,411 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Stock Down 3.9 %

Shares of HCSG opened at $11.35 on Friday. The company has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $11.20. The stock has a market cap of $835.88 million, a price-to-earnings ratio of 19.91 and a beta of 0.53. Healthcare Services Group, Inc. has a 12 month low of $8.75 and a 12 month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The business had revenue of $426.30 million during the quarter, compared to the consensus estimate of $424.94 million. During the same quarter last year, the company earned $0.12 EPS. Healthcare Services Group’s revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Healthcare Services Group, Inc. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

HCSG has been the topic of several research reports. Royal Bank of Canada lowered their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Benchmark restated a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, July 25th. Finally, Robert W. Baird raised their target price on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.50.

Healthcare Services Group Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.