Healthcare Services Group, Inc. (NASDAQ:HCSG) Stock Position Increased by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,841 shares of the business services provider’s stock after buying an additional 1,897 shares during the quarter. Confluence Investment Management LLC’s holdings in Healthcare Services Group were worth $1,961,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Royce & Associates LP lifted its holdings in Healthcare Services Group by 7.0% in the 3rd quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after acquiring an additional 290,621 shares during the last quarter. State Street Corp lifted its stake in Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after purchasing an additional 226,818 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 buying an additional 181,231 shares in the last quarter. Geode Capital Management LLC grew its position in Healthcare Services Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock worth $19,674,000 after buying an additional 50,375 shares during the last quarter. Finally, Brandes Investment Partners LP increased its holdings in shares of 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 buying an additional 142,997 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HCSG has been the subject of several research reports. Robert W. Baird reduced their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, December 19th. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Finally, Macquarie assumed coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.80.

Healthcare Services Group Stock Down 1.3 %

Shares of Healthcare Services Group stock opened at $11.46 on Friday. The stock has a market cap of $839.91 million, a PE ratio of 16.61 and a beta of 0.55. Healthcare Services Group, Inc. has a 12 month low of $8.98 and a 12 month high of $13.00. The business has a fifty day simple moving average of $11.81 and a 200-day simple moving average of $11.14.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. Analysts expect that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

About Healthcare Services Group

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.