Geode Capital Management LLC Acquires 50,375 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Geode Capital Management LLC boosted its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,760,971 shares of the business services provider’s stock after buying an additional 50,375 shares during the period. Geode Capital Management LLC owned approximately 2.40% of Healthcare Services Group worth $19,674,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HCSG. Farther Finance Advisors LLC grew its stake in shares of 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 worth $30,000 after acquiring an additional 2,428 shares during the last quarter. Headlands Technologies LLC lifted 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 worth $33,000 after acquiring an additional 955 shares during the period. Financial Management Professionals Inc. boosted its position 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 acquiring an additional 3,774 shares in the last quarter. International Assets Investment Management LLC increased its stake in Healthcare Services Group by 1,017.5% in the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock valued at $1,150,000 after acquiring an additional 9,371 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in shares of Healthcare Services Group during the 3rd quarter worth approximately $116,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on HCSG. Robert W. Baird dropped their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Macquarie started coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 price target for the company. Finally, StockNews.com cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.80.

Healthcare Services Group Price Performance

HCSG stock opened at $11.52 on Friday. The company has a 50 day moving average price of $11.73 and a 200 day moving average price of $11.10. The stock has a market capitalization of $844.31 million, a PE ratio of 16.70 and a beta of 0.55. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share 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 analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 0.81 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.