Rice Hall James & Associates LLC Has $3.25 Million Stock Holdings in Healthcare Services Group, Inc. $HCSG

Rice Hall James & Associates LLC cut its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,112 shares of the business services provider’s stock after selling 33,175 shares during the quarter. Rice Hall James & Associates LLC owned 0.24% of Healthcare Services Group worth $3,253,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Miller Global Investments LLC acquired a new stake in Healthcare Services Group during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after buying an additional 1,356 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Healthcare Services Group during the fourth quarter worth about $33,000. Farther Finance Advisors LLC grew its position in Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after buying an additional 877 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Healthcare Services Group by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock worth $71,000 after buying an additional 845 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HCSG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Healthcare Services Group in a research report on Tuesday, June 2nd. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. BMO Capital Markets lifted their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Benchmark lifted their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. One research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Healthcare Services Group Trading Up 1.2%

NASDAQ HCSG opened at $22.56 on Wednesday. The stock’s 50 day moving average is $20.80 and its two-hundred day moving average is $19.98. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 23.50 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 released its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.15. The company had revenue of $462.77 million for 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts predict that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current 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.