Intech Investment Management LLC Purchases New Shares in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Intech Investment Management LLC purchased a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,992 shares of the business services provider’s stock, valued at approximately $156,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Healthcare Services Group by 44.4% during the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after buying an additional 955 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Healthcare Services Group by 85.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock valued at $91,000 after buying an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Healthcare Services Group during the 3rd quarter valued at $116,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Healthcare Services Group during the 2nd quarter valued at $124,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

HCSG opened at $12.42 on Friday. The stock has a 50-day moving average price of $11.24 and a 200-day moving average price of $10.97. The firm has a market cap of $910.26 million, a PE ratio of 18.00 and a beta of 0.55. Healthcare Services Group, Inc. has a 1 year low of $8.98 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. Healthcare Services Group’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HCSG shares. Benchmark restated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, October 24th. Robert W. Baird dropped their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Healthcare Services Group 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.