Bank of New York Mellon Corp Lowers Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Bank of New York Mellon Corp lessened its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 492,111 shares of the business services provider’s stock after selling 35,310 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Healthcare Services Group worth $5,716,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in shares of Healthcare Services Group in the third quarter worth about $9,166,000. Foundry Partners LLC raised its stake in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after buying an additional 374,301 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Healthcare Services Group during the third quarter valued at approximately $3,217,000. State Street Corp grew its holdings in shares of Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after purchasing an additional 226,818 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Healthcare Services Group by 39.9% during the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock valued at $5,858,000 after purchasing an additional 159,878 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. StockNews.com downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Macquarie began coverage on Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.00.

Healthcare Services Group Trading Up 2.3 %

Shares of NASDAQ:HCSG opened at $10.92 on Monday. Healthcare Services Group, Inc. has a 1 year low of $9.70 and a 1 year high of $12.99. The business has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $11.23. The firm has a market cap of $802.49 million, a price-to-earnings ratio of 20.22 and a beta of 0.66.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. On average, sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Healthcare Services Group 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.