Healthcare Services Group, Inc. $HCSG Shares Sold by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC trimmed its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 53.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,856 shares of the business services provider’s stock after selling 131,584 shares during the period. Healthcare Services Group accounts for about 1.4% of Sovereign s Capital Management LLC’s holdings, making the stock its 28th biggest holding. Sovereign s Capital Management LLC owned 0.17% of Healthcare Services Group worth $2,234,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HCSG. 8 Knots Management LLC acquired a new stake in shares of Healthcare Services Group in the third quarter valued at about $56,527,000. Ameriprise Financial Inc. raised its position in shares of 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 buying an additional 882,213 shares during the last quarter. American Century Companies Inc. raised its position in shares of 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 buying an additional 487,608 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of 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 buying an additional 411,908 shares during the last quarter. Finally, Towle & Co. acquired a new stake in shares of Healthcare Services Group in the fourth quarter valued at about $7,396,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Trading Up 1.2%

Healthcare Services Group stock opened at $22.56 on Wednesday. Healthcare Services Group, Inc. has a 12-month low of $12.66 and a 12-month high of $24.39. The stock has a market cap of $1.55 billion, a P/E ratio of 23.50 and a beta of 0.82. The company has a 50-day moving average price of $20.80 and a 200 day moving average price of $19.98.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The firm had revenue of $462.77 million during the quarter, compared to analysts’ expectations of $479.79 million. During the same period last year, the business earned $0.23 earnings per share. Healthcare Services Group’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HCSG. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a report on Tuesday, June 2nd. Royal Bank Of Canada raised their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. Finally, Zacks Research upgraded shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Healthcare Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Healthcare Services Group Company Profile

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.