Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,500 shares of the business services provider’s stock after selling 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Healthcare Services Group were worth $397,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Healthcare Services Group in the 1st quarter worth approximately $27,000. Bleakley Financial Group LLC acquired a new position in shares of Healthcare Services Group in the 3rd quarter worth approximately $116,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Healthcare Services Group in the 2nd quarter worth approximately $124,000. Allspring Global Investments Holdings LLC increased its position in shares of Healthcare Services Group by 131.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,718 shares of the business services provider’s stock worth $156,000 after acquiring an additional 8,359 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Healthcare Services Group in the first quarter worth approximately $157,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HCSG. Royal Bank of Canada dropped their target price on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research report on Thursday, October 24th. Finally, Robert W. Baird dropped their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Healthcare Services Group has a consensus rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Stock Performance

HCSG stock opened at $11.88 on Thursday. The stock has a market cap of $870.69 million, a P/E ratio of 17.22 and a beta of 0.52. The firm has a 50 day simple moving average of $10.79 and a 200 day simple moving average of $10.84. Healthcare Services Group, Inc. has a 52 week low of $8.98 and a 52 week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.81 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.