Healthcare Services Group, Inc. (NASDAQ:HCSG) Position Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC increased its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 803.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,358 shares of the business services provider’s stock after purchasing an additional 2,097 shares during the period. Sterling Capital Management LLC’s holdings in Healthcare Services Group were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wealthfront Advisers LLC acquired a new stake in Healthcare Services Group during the 4th quarter worth about $166,278,000. Raymond James Financial Inc. acquired a new stake in shares of Healthcare Services Group during the fourth quarter valued at approximately $5,909,000. First Eagle Investment Management LLC purchased a new stake in shares of Healthcare Services Group in the 4th quarter valued at approximately $3,031,000. Franklin Resources Inc. boosted its stake in Healthcare Services Group by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 794,613 shares of the business services provider’s stock worth $9,229,000 after purchasing an additional 234,025 shares during the period. Finally, Royce & Associates LP grew its position in Healthcare Services Group by 4.9% during the 4th quarter. Royce & Associates LP now owns 4,668,599 shares of the business services provider’s stock worth $54,226,000 after purchasing an additional 219,103 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on HCSG. Robert W. Baird raised their target price on Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com upgraded Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, UBS Group raised shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $15.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Healthcare Services Group Price Performance

HCSG opened at $13.67 on Friday. The company has a market capitalization of $996.76 million, a PE ratio of 25.32 and a beta of 0.62. The business has a 50-day moving average of $10.45 and a 200-day moving average of $11.12. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $13.69.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The firm had revenue of $447.66 million during the quarter, compared to analysts’ expectations of $443.82 million. On average, equities research analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

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.