Centiva Capital LP Takes $311,000 Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Centiva Capital LP bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,825 shares of the business services provider’s stock, valued at approximately $311,000.

A number of other hedge funds also recently modified their holdings of the business. Verition Fund Management LLC purchased a new stake in shares of Healthcare Services Group in the third quarter valued at $231,000. Glenmede Trust Co. NA acquired a new position in shares of Healthcare Services Group in the third quarter worth $170,000. BNP Paribas Financial Markets increased its stake in shares of Healthcare Services Group by 9.0% in the third quarter. BNP Paribas Financial Markets now owns 68,196 shares of the business services provider’s stock worth $762,000 after acquiring an additional 5,656 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Healthcare Services Group in the third quarter worth $9,166,000. Finally, Foundry Partners LLC increased its stake in shares of Healthcare Services Group by 86.5% in the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock worth $9,015,000 after acquiring an additional 374,301 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $12.90 on Wednesday. The company has a market capitalization of $945.45 million, a price-to-earnings ratio of 18.70 and a beta of 0.55. Healthcare Services Group, Inc. has a one year low of $8.98 and a one year high of $13.00. The company’s fifty day moving average price is $11.32 and its two-hundred day moving average price is $11.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 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 firm had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same period in the prior year, the business posted $0.17 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HCSG has been the topic of a number of research reports. StockNews.com raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Robert W. Baird dropped their price target on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.