Redmond Asset Management LLC Acquires 2,614 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Redmond Asset Management LLC increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,756 shares of the business services provider’s stock after buying an additional 2,614 shares during the quarter. Redmond Asset Management LLC owned 0.16% of Healthcare Services Group worth $1,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HCSG. Cerity Partners LLC bought a new position in Healthcare Services Group in the third quarter valued at about $9,166,000. Foundry Partners LLC raised its position in 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 valued at $9,015,000 after purchasing an additional 374,301 shares during the last quarter. Royce & Associates LP raised its position in Healthcare Services Group by 7.0% in 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 during the last quarter. Invenomic Capital Management LP bought a new position in Healthcare Services Group in the third quarter valued at about $3,217,000. Finally, State Street Corp increased its stake in shares of Healthcare Services Group by 8.3% in the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after buying an additional 226,818 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $10.56 on Friday. The business has a 50 day simple moving average of $11.35 and a 200 day simple moving average of $11.22. Healthcare Services Group, Inc. has a one year low of $9.70 and a one year high of $13.00. The stock has a market capitalization of $776.25 million, a P/E ratio of 19.56 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. Equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HCSG shares. StockNews.com cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, Macquarie started coverage on Healthcare Services Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Healthcare Services Group presently has an average rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Company 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.