The Manufacturers Life Insurance Company Raises Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

The Manufacturers Life Insurance Company grew its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,368 shares of the business services provider’s stock after acquiring an additional 1,311 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Healthcare Services Group were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Healthcare Services Group in the 1st quarter worth about $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Healthcare Services Group during the 1st quarter valued at $55,000. PNC Financial Services Group Inc. grew its stake in shares of Healthcare Services Group by 38.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,714 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Healthcare Services Group during the second quarter worth $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 worth $154,000 after buying an additional 1,411 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG opened at $10.74 on Friday. Healthcare Services Group, Inc. has a 52-week low of $8.75 and a 52-week high of $13.00. The stock has a market cap of $790.96 million, a P/E ratio of 18.61 and a beta of 0.52. The firm has a 50 day moving average price of $10.71 and a 200 day moving average price of $10.95.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Benchmark reissued a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.