Farther Finance Advisors LLC Buys 2,428 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Farther Finance Advisors LLC raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 804.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,730 shares of the business services provider’s stock after purchasing an additional 2,428 shares during the quarter. Farther Finance Advisors LLC’s holdings in Healthcare Services Group were worth $30,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HCSG. Hillsdale Investment Management Inc. purchased a new stake in Healthcare Services Group during the 1st quarter valued at approximately $3,765,000. Azarias Capital Management L.P. increased its position in shares of Healthcare Services Group by 50.7% during the 2nd 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 purchasing an additional 412,704 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Healthcare Services Group by 12.2% in the second quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock valued at $13,983,000 after acquiring an additional 142,997 shares during the period. Dimensional Fund Advisors LP raised its position in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after purchasing an additional 181,231 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Healthcare Services Group in the second quarter worth approximately $971,000. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on HCSG shares. Royal Bank of Canada lowered their price target on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $17.00 price target on shares of Healthcare Services Group in a report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

HCSG stock opened at $11.93 on Friday. The business has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $10.86. The firm has a market capitalization of $874.35 million, a PE ratio of 17.29 and a beta of 0.52. 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 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. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The company had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Healthcare Services Group, Inc. will post 0.81 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.