Foundry Partners LLC Decreases Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Foundry Partners LLC cut its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 265,210 shares of the business services provider’s stock after selling 4,775 shares during the quarter. Foundry Partners LLC’s holdings in Healthcare Services Group were worth $2,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Healthcare Services Group by 173.4% in the third quarter. CWM LLC now owns 10,209 shares of the business services provider’s stock worth $106,000 after purchasing an additional 6,475 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Healthcare Services Group in the third quarter worth about $796,000. Azarias Capital Management L.P. raised its stake in shares of Healthcare Services Group by 248.8% in the third quarter. Azarias Capital Management L.P. now owns 1,107,788 shares of the business services provider’s stock worth $11,554,000 after purchasing an additional 790,233 shares during the last quarter. Cambiar Investors LLC raised its stake in shares of Healthcare Services Group by 6.2% in the third quarter. Cambiar Investors LLC now owns 150,629 shares of the business services provider’s stock worth $1,571,000 after purchasing an additional 8,820 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Healthcare Services Group by 25.9% in the third quarter. Teacher Retirement System of Texas now owns 26,037 shares of the business services provider’s stock worth $272,000 after purchasing an additional 5,358 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $11.83 on Tuesday. The business’s 50 day moving average price is $12.19 and its 200-day moving average price is $10.71. The firm has a market capitalization of $871.16 million, a PE ratio of 22.32 and a beta of 0.49. Healthcare Services Group, Inc. has a 1 year low of $8.75 and a 1 year high of $15.97.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 14th. The business services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Healthcare Services Group had a return on equity of 10.81% and a net margin of 2.30%. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $424.57 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts expect that Healthcare Services Group, Inc. will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HCSG. Robert W. Baird lifted their price target on Healthcare Services Group from $10.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. StockNews.com upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Royal Bank of Canada lifted their price target on Healthcare Services Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. UBS Group lifted their price target on Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Benchmark lifted their price target on Healthcare Services Group from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Three equities research 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, the company currently has an average rating of “Hold” and a consensus 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.