JPMorgan Chase & Co. Purchases 76,456 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

JPMorgan Chase & Co. lifted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 11.0% in the 3rd quarter, Holdings Channel reports. The fund owned 773,635 shares of the business services provider’s stock after acquiring an additional 76,456 shares during the quarter. JPMorgan Chase & Co.’s holdings in Healthcare Services Group were worth $8,642,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Healthcare Services Group by 804.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Healthcare Services Group by 44.4% in the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after acquiring an additional 955 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Healthcare Services Group by 85.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after acquiring an additional 3,774 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Healthcare Services Group by 1,017.5% in the 3rd quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock worth $1,150,000 after acquiring an additional 9,371 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in Healthcare Services Group during the 3rd quarter valued at approximately $116,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Trading Up 0.8 %

Shares of HCSG opened at $11.56 on Tuesday. The business’s fifty day simple moving average is $11.90 and its two-hundred day simple moving average is $11.21. Healthcare Services Group, Inc. has a 12 month low of $8.98 and a 12 month high of $13.00. The company has a market cap of $847.24 million, a price-to-earnings ratio of 16.75 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same period last year, the business posted $0.17 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Robert W. Baird reduced their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Macquarie assumed coverage on Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.80.

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.