Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC boosted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 215.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,263 shares of the business services provider’s stock after purchasing an additional 95,118 shares during the period. Legato Capital Management LLC owned about 0.19% of Healthcare Services Group worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HCSG. Royce & Associates LP increased its holdings in Healthcare Services Group by 7.0% in the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after buying an additional 290,621 shares in the last quarter. State Street Corp increased its holdings in Healthcare Services Group by 8.3% in 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 buying an additional 226,818 shares in the last quarter. Geode Capital Management LLC increased its holdings in Healthcare Services Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider’s stock valued at $19,674,000 after buying an additional 50,375 shares in the last quarter. Cerity Partners LLC purchased a new position in Healthcare Services Group in the third quarter valued at about $9,166,000. Finally, Foundry Partners LLC increased its holdings in Healthcare Services Group by 86.5% in 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. Institutional investors and hedge funds own 97.97% of the company’s stock.

Analysts Set New Price Targets

HCSG has been the subject of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Macquarie began coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, December 19th. Finally, StockNews.com raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.80.

Healthcare Services Group Stock Performance

HCSG stock opened at $10.90 on Wednesday. The stock has a market capitalization of $798.86 million, a P/E ratio of 15.80 and a beta of 0.56. Healthcare Services Group, Inc. has a one year low of $9.34 and a one year high of $13.00. The company has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $11.24.

Healthcare Services Group (NASDAQ:HCSG) last released 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 12.59% and a net margin of 2.95%. Research analysts forecast 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.