Deutsche Bank AG Takes $1.82 Million Position in Healthcare Services Group, Inc. $HCSG

Deutsche Bank AG purchased a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, HoldingsChannel reports. The fund purchased 74,071 shares of the business services provider’s stock, valued at approximately $1,819,000.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Healthcare Services Group in the 4th quarter worth about $33,000. KBC Group NV acquired a new stake in Healthcare Services Group during the 1st quarter worth about $35,000. Farther Finance Advisors LLC boosted its position in Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after acquiring an additional 877 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Healthcare Services Group by 600.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 8,795 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HCSG has been the subject of several research reports. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. UBS Group boosted their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Oppenheimer assumed coverage on Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $26.50.

Insider Activity

In related news, COO Andrew Kush sold 15,598 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares of the company’s stock, valued at approximately $528,500.84. This represents a 40.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Healthcare Services Group Stock Performance

Shares of HCSG stock opened at $22.44 on Friday. The stock’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $21.54. Healthcare Services Group, Inc. has a twelve month low of $15.13 and a twelve month high of $25.75. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 13.05 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $470.81 million during the quarter, compared to analysts’ expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same quarter in the prior year, the business earned ($0.44) earnings per share. On average, analysts forecast that Healthcare Services Group, Inc. will post 1.14 EPS for the current fiscal year.

About Healthcare Services Group

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.