Cerity Partners LLC Acquires Shares of 820,557 Healthcare Services Group, Inc. (NASDAQ:HCSG)

Cerity Partners LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 820,557 shares of the business services provider’s stock, valued at approximately $9,166,000. Cerity Partners LLC owned about 1.12% of Healthcare Services Group at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HCSG. Janus Henderson Group PLC increased its stake in Healthcare Services Group by 2,698.7% in the 1st quarter. Janus Henderson Group PLC now owns 919,069 shares of the business services provider’s stock worth $11,470,000 after acquiring an additional 886,230 shares during the last quarter. Azarias Capital Management L.P. increased its position in Healthcare Services Group by 50.7% in the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after purchasing an additional 412,704 shares during the last quarter. Foundry Partners LLC raised its stake in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after purchasing an additional 374,301 shares in the last quarter. Royce & Associates LP raised its stake in Healthcare Services Group by 7.0% during the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after purchasing an additional 290,621 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Healthcare Services Group by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after purchasing an additional 181,231 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Trading Up 1.7 %

Shares of HCSG opened at $12.13 on Wednesday. Healthcare Services Group, Inc. has a twelve month low of $8.98 and a twelve month high of $13.00. The company’s fifty day simple moving average is $11.04 and its 200-day simple moving average 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 posted its quarterly earnings data 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 company had revenue of $428.10 million for the quarter, compared to analyst estimates of $429.95 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts predict that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HCSG shares. Benchmark restated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research report on Thursday, October 24th. Robert W. Baird decreased their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

About Healthcare Services Group

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.