Bridge City Capital LLC Cuts Holdings in Healthcare Services Group, Inc. $HCSG

Bridge City Capital LLC reduced its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,381 shares of the business services provider’s stock after selling 22,916 shares during the quarter. Bridge City Capital LLC’s holdings in Healthcare Services Group were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in HCSG. 8 Knots Management LLC purchased a new position in Healthcare Services Group in the third quarter valued at about $56,527,000. Ameriprise Financial Inc. raised its position in Healthcare Services Group by 80.2% in the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after purchasing an additional 882,213 shares during the period. American Century Companies Inc. raised its position in Healthcare Services Group by 38.1% in the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after purchasing an additional 487,608 shares during the period. Qube Research & Technologies Ltd raised its position in Healthcare Services Group by 1,116.3% in the second quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock valued at $6,746,000 after purchasing an additional 411,908 shares during the period. Finally, Towle & Co. purchased a new position in Healthcare Services Group in the fourth quarter valued at about $7,396,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $22.38 on Friday. The business has a 50-day moving average of $20.64 and a 200-day moving average of $19.92. The company has a market capitalization of $1.54 billion, a PE ratio of 23.31 and a beta of 0.82. Healthcare Services Group, Inc. has a 1-year low of $12.66 and a 1-year high of $24.39.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.15. The company had revenue of $462.77 million during the quarter, compared to the consensus estimate of $479.79 million. Healthcare Services Group had a return on equity of 17.81% and a net margin of 3.67%.The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, equities analysts expect that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on HCSG. Royal Bank Of Canada raised their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Thursday, April 23rd. UBS Group raised their price objective on Healthcare Services Group from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Finally, Benchmark raised their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Healthcare Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.