Rhumbline Advisers Increases Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Rhumbline Advisers increased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,592 shares of the business services provider’s stock after buying an additional 9,590 shares during the quarter. Rhumbline Advisers owned about 0.33% of Healthcare Services Group worth $2,545,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Healthcare Services Group by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock valued at $89,488,000 after buying an additional 167,779 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Healthcare Services Group by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,599,981 shares of the business services provider’s stock valued at $16,592,000 after buying an additional 111,625 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of Healthcare Services Group by 1.6% during the first quarter. Heartland Advisors Inc. now owns 1,312,445 shares of the business services provider’s stock valued at $16,379,000 after buying an additional 20,392 shares during the last quarter. Azarias Capital Management L.P. grew its holdings in shares of Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after buying an additional 412,704 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Healthcare Services Group by 2,692.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 979,748 shares of the business services provider’s stock valued at $13,178,000 after purchasing an additional 944,658 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HCSG shares. Royal Bank of Canada decreased their target price on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Robert W. Baird upped their price target on shares of Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Benchmark restated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $11.66 on Thursday. The firm has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $11.20. Healthcare Services Group, Inc. has a 1-year low of $8.75 and a 1-year high of $13.00. The stock has a market cap of $858.71 million, a price-to-earnings ratio of 20.46 and a beta of 0.53.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $426.30 million for the quarter, compared to analyst estimates of $424.94 million. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. Equities analysts expect that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current fiscal year.

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.