Brandes Investment Partners LP Boosts Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Brandes Investment Partners LP grew its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,318,045 shares of the business services provider’s stock after acquiring an additional 142,997 shares during the period. Brandes Investment Partners LP’s holdings in Healthcare Services Group were worth $13,983,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Healthcare Services Group during the 2nd quarter worth approximately $971,000. The Manufacturers Life Insurance Company increased its position in shares of Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock worth $300,000 after acquiring an additional 1,311 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Healthcare Services Group by 6.2% in the 2nd quarter. AQR Capital Management LLC now owns 590,355 shares of the business services provider’s stock valued at $6,246,000 after acquiring an additional 34,211 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Healthcare Services Group by 5.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 162,008 shares of the business services provider’s stock valued at $1,714,000 after acquiring an additional 8,761 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Healthcare Services Group by 120.1% during the 2nd quarter. Sei Investments Co. now owns 68,975 shares of the business services provider’s stock worth $730,000 after purchasing an additional 37,633 shares during the period. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Trading Down 0.1 %

Shares of NASDAQ:HCSG opened at $11.04 on Monday. The firm’s 50 day moving average is $10.93 and its two-hundred day moving average is $11.13. The firm has a market capitalization of $813.05 million, a P/E ratio of 19.37 and a beta of 0.53. Healthcare Services Group, Inc. has a 52 week low of $8.75 and a 52 week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly 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 company had revenue of $426.30 million during the quarter, compared to analyst estimates of $424.94 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. Analysts predict that Healthcare Services Group, Inc. will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on HCSG. Robert W. Baird raised their price objective on Healthcare Services Group from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada reduced 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. Finally, Benchmark reaffirmed a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.