Healthcare Services Group, Inc. (NASDAQ:HCSG) Position Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,877 shares of the business services provider’s stock after selling 1,362 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Healthcare Services Group worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HCSG. Headlands Technologies LLC purchased a new position in Healthcare Services Group in the 1st quarter worth about $27,000. Financial Management Professionals Inc. boosted its holdings in shares of Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after buying an additional 3,774 shares during the period. International Assets Investment Management LLC increased its position in shares of Healthcare Services Group by 1,017.5% in the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock worth $1,150,000 after acquiring an additional 9,371 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Healthcare Services Group during the third quarter valued at approximately $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Healthcare Services Group in the 2nd quarter valued at approximately $124,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HCSG. Robert W. Baird lowered their price target on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reduced their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $11.87 on Friday. The company’s fifty day moving average is $10.82 and its two-hundred day moving average is $10.85. Healthcare Services Group, Inc. has a 52-week low of $8.98 and a 52-week high of $13.00. The firm has a market capitalization of $869.96 million, a price-to-earnings ratio of 17.20 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last posted 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. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The firm had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Healthcare Services Group Company 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.