Cerity Partners LLC Invests $9.17 Million in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Cerity Partners LLC acquired a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the third quarter, Holdings Channel reports. The firm acquired 820,557 shares of the business services provider’s stock, valued at approximately $9,166,000.

Several other large investors also recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its position in shares of Healthcare Services Group by 44.4% during the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after buying an additional 955 shares in the last quarter. ProShare Advisors LLC grew its holdings in Healthcare Services Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,994 shares of the business services provider’s stock worth $187,000 after acquiring an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Healthcare Services Group by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 1,311 shares during the period. ClariVest Asset Management LLC increased its position in Healthcare Services Group by 1.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock valued at $1,611,000 after purchasing an additional 1,740 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Healthcare Services Group by 804.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 2,428 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Up 1.7 %

Shares of Healthcare Services Group stock opened at $12.13 on Wednesday. Healthcare Services Group, Inc. has a 52-week low of $8.98 and a 52-week high of $13.00. The firm’s 50 day moving average price is $11.04 and its 200-day moving average price is $10.91. The company has a market cap of $889.01 million, a P/E ratio of 17.16 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $428.10 million for the quarter, compared to analyst estimates of $429.95 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, October 24th. Robert W. Baird cut their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Three equities research 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, the stock has an average rating of “Hold” and a consensus price target of $14.00.

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.