State Street Corp Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

State Street Corp increased its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 8.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,964,325 shares of the business services provider’s stock after buying an additional 226,818 shares during the quarter. State Street Corp’s holdings in Healthcare Services Group were worth $33,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Royce & Associates LP lifted its position in Healthcare Services Group by 7.0% during the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after acquiring an additional 290,621 shares during the period. Dimensional Fund Advisors LP raised its holdings in Healthcare Services Group by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after purchasing an additional 181,231 shares in the last quarter. Brandes Investment Partners LP lifted its position in Healthcare Services Group by 12.2% in the second quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock valued at $13,983,000 after purchasing an additional 142,997 shares during the period. Azarias Capital Management L.P. raised its position in Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after acquiring an additional 412,704 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in Healthcare Services Group in the third quarter valued at about $9,166,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

HCSG opened at $11.30 on Friday. Healthcare Services Group, Inc. has a 12-month low of $8.98 and a 12-month high of $13.00. The firm’s fifty day moving average price is $11.65 and its 200 day moving average price is $11.07. The stock has a market capitalization of $828.19 million, a PE ratio of 16.38 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $428.10 million for the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Macquarie began coverage on Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Robert W. Baird cut their target price on 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. Finally, Benchmark restated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.80.

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.