Wealthfront Advisers LLC Purchases New Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Wealthfront Advisers LLC acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,309,642 shares of the business services provider’s stock, valued at approximately $166,278,000. Wealthfront Advisers LLC owned about 19.52% of Healthcare Services Group as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in HCSG. Farther Finance Advisors LLC raised its holdings in Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,428 shares in the last quarter. Royce & Associates LP lifted its position in shares of Healthcare Services Group by 7.0% during the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock worth $49,701,000 after purchasing an additional 290,621 shares during the last quarter. Intech Investment Management LLC acquired a new position in Healthcare Services Group in the third quarter worth about $156,000. 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 during the last quarter. Finally, Cerity Partners LLC bought a new stake in Healthcare Services Group in the third quarter valued at about $9,166,000. 97.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HCSG has been the subject of several research reports. StockNews.com lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Macquarie assumed coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

Shares of HCSG opened at $10.76 on Tuesday. Healthcare Services Group, Inc. has a 12 month low of $9.70 and a 12 month high of $12.99. The stock has a fifty day moving average price of $11.13 and a 200 day moving average price of $11.23. The company has a market cap of $790.73 million, a P/E ratio of 19.93 and a beta of 0.66.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly 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 11.76% and a net margin of 2.30%. As a group, research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.