Picton Mahoney Asset Management Invests $1.56 Million in Healthcare Services Group, Inc. $HCSG

Picton Mahoney Asset Management bought a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 92,954 shares of the business services provider’s stock, valued at approximately $1,564,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HCSG. EverSource Wealth Advisors LLC increased its stake in Healthcare Services Group by 163.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,356 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Healthcare Services Group by 94.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,843 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,384 shares in the last quarter. LSV Asset Management acquired a new position in shares of Healthcare Services Group in the 3rd quarter valued at $108,000. Tower Research Capital LLC TRC grew its position in shares of Healthcare Services Group by 600.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,259 shares of the business services provider’s stock valued at $154,000 after buying an additional 8,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Healthcare Services Group during the 2nd quarter worth $156,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Macquarie Infrastructure restated a “buy” rating on shares of Healthcare Services Group in a research note on Wednesday, November 26th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, February 12th. Royal Bank Of Canada started coverage on Healthcare Services Group in a research report on Tuesday. They issued a “sector perform” rating and a $22.00 target price for the company. Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $23.00 price objective on Healthcare Services Group in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Healthcare Services Group has an average rating of “Hold” and a consensus target price of $22.00.

Insider Transactions at Healthcare Services Group

In related news, CAO Andrew M. Brophy sold 2,490 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the sale, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Orr sold 44,615 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.53, for a total transaction of $915,945.95. The disclosure for this sale is available in the SEC filing. Insiders sold 146,962 shares of company stock worth $3,014,100 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Healthcare Services Group Stock Performance

Shares of NASDAQ:HCSG opened at $20.98 on Friday. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $22.98. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 25.59 and a beta of 0.73. The company has a 50-day simple moving average of $19.82 and a 200-day simple moving average of $18.12.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million for the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, research analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.