Sanctuary Advisors LLC Buys Shares of 41,725 Healthcare Services Group, Inc. (NASDAQ:HCSG)

Sanctuary Advisors LLC bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 41,725 shares of the business services provider’s stock, valued at approximately $453,000. Sanctuary Advisors LLC owned 0.06% of Healthcare Services Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HCSG. Headlands Technologies LLC acquired a new position in Healthcare Services Group in the first quarter valued at approximately $27,000. Financial Management Professionals Inc. acquired a new position in Healthcare Services Group in the first quarter valued at approximately $55,000. PNC Financial Services Group Inc. boosted its stake in Healthcare Services Group by 38.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,714 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Healthcare Services Group in the second quarter valued at approximately $124,000. Finally, CWM LLC boosted its stake in 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 acquiring an additional 1,411 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HCSG shares. Royal Bank of Canada reduced their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Benchmark reiterated 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 boosted their price objective 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $10.74 on Thursday. Healthcare Services Group, Inc. has a 12 month low of $8.75 and a 12 month high of $13.00. The stock has a market cap of $790.96 million, a price-to-earnings ratio of 18.91 and a beta of 0.52. The stock’s 50 day moving average price is $10.71 and its 200 day moving average price is $10.95.

Healthcare Services Group (NASDAQ:HCSG) last announced 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 firm had revenue of $426.30 million for the quarter, compared to analysts’ expectations of $424.94 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.78 EPS for the current year.

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.