Pacer Advisors Inc. Reduces Stock Position in Healthcare Services Group, Inc. $HCSG

Pacer Advisors Inc. cut its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,507 shares of the business services provider’s stock after selling 40,078 shares during the period. Pacer Advisors Inc. owned about 0.41% of Healthcare Services Group worth $5,185,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 1,356 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Healthcare Services Group during the fourth quarter worth approximately $33,000. KBC Group NV acquired a new position in Healthcare Services Group in the first quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its stake in Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 877 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Healthcare Services Group by 600.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 8,795 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Benchmark upped their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.20.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $22.84 on Thursday. The firm has a market cap of $1.57 billion, a PE ratio of 13.28 and a beta of 0.81. Healthcare Services Group, Inc. has a one year low of $13.69 and a one year high of $25.75. The firm’s fifty day moving average is $23.04 and its two-hundred day moving average is $21.18.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The business had revenue of $470.81 million during the quarter, compared to the consensus estimate of $471.22 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. Research analysts predict that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current year.

Insider Buying and Selling at Healthcare Services Group

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares in the company, valued at approximately $528,500.84. This trade represents a 40.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Healthcare Services Group Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.