Royal Bank of Canada Has $7.30 Million Holdings in Healthcare Services Group, Inc. $HCSG

Royal Bank of Canada increased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 33.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 393,601 shares of the business services provider’s stock after buying an additional 97,833 shares during the period. Royal Bank of Canada’s holdings in Healthcare Services Group were worth $7,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of HCSG. Empowered Funds LLC boosted its holdings in Healthcare Services Group by 123.6% during the first quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider’s stock valued at $4,004,000 after acquiring an additional 119,290 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Healthcare Services Group by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock worth $44,534,000 after purchasing an additional 62,689 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Healthcare Services Group during the 4th quarter worth about $1,008,000. Y Intercept Hong Kong Ltd lifted its position in shares of Healthcare Services Group by 616.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider’s stock worth $1,377,000 after purchasing an additional 63,866 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Healthcare Services Group by 454.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after buying an additional 1,152,176 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $21.79 on Tuesday. The company has a market capitalization of $1.50 billion, a PE ratio of 12.67 and a beta of 0.81. Healthcare Services Group, Inc. has a one year low of $14.20 and a one year high of $25.75. The business has a 50 day simple moving average of $23.13 and a 200 day simple moving average of $21.25.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same quarter in the prior year, the firm earned ($0.44) EPS. Equities analysts anticipate that Healthcare Services Group, Inc. will post 1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several research analyst reports. Benchmark raised their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets upped their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wall Street Zen lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada boosted 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 report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Healthcare Services Group has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Insider Activity at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the sale, the chief operating officer owned 22,741 shares in the company, valued at approximately $528,500.84. This represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company’s stock.

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.