JPMorgan Chase & Co. Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

JPMorgan Chase & Co. lifted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 773,635 shares of the business services provider’s stock after purchasing an additional 76,456 shares during the quarter. JPMorgan Chase & Co. owned 1.06% of Healthcare Services Group worth $8,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings 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 purchasing an additional 2,428 shares in the last quarter. Headlands Technologies LLC boosted its holdings 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 purchasing an additional 955 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings 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 purchasing an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Healthcare Services Group in the 3rd quarter worth about $116,000. Finally, Intech Investment Management LLC purchased a new position in shares of Healthcare Services Group in the 3rd quarter worth about $156,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Performance

NASDAQ HCSG opened at $11.56 on Tuesday. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The stock has a 50 day simple moving average of $11.90 and a two-hundred day simple moving average of $11.21. The stock has a market cap of $847.24 million, a P/E ratio of 16.75 and a beta of 0.56.

Healthcare Services Group (NASDAQ:HCSG) last released 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. 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 during the quarter, compared to analysts’ expectations of $429.95 million. During the same quarter last year, the business posted $0.17 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Macquarie assumed coverage on Healthcare Services Group in a report on Monday, December 16th. They set a “neutral” rating and a $13.00 target price for the company. Robert W. Baird dropped their target price on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, StockNews.com cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.80.

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.