Healthcare Services Group, Inc. $HCSG Shares Newly Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, Holdings Channel.com reports. The institutional investor bought 72,544 shares of the business services provider’s stock, valued at approximately $1,484,000. Healthcare Services Group accounts for approximately 1.0% of SummerHaven Investment Management LLC’s portfolio, making the stock its 20th largest holding.

A number of other institutional investors have also bought and sold shares of HCSG. BlackRock Inc. acquired a new position in shares of Healthcare Services Group during the 2nd quarter worth approximately $279,379,000. Dimensional Fund Advisors LP grew its position 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 valued at $44,534,000 after purchasing an additional 62,689 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Healthcare Services Group by 454.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider’s stock valued at $26,080,000 after purchasing an additional 1,152,176 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Healthcare Services Group in the second quarter valued at approximately $22,406,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Healthcare Services Group by 5.5% in the first quarter. Janus Henderson Group PLC now owns 890,035 shares of the business services provider’s stock valued at $16,510,000 after purchasing an additional 46,427 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on HCSG. Oppenheimer initiated coverage on Healthcare Services Group in a report on Wednesday, August 19th. They issued an “outperform” rating and a $28.00 price target for the company. Robert W. Baird lowered their price objective on Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 25th. Wall Street Zen cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, UBS Group upped their target price on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Insider Buying and Selling

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the transaction, the chief operating officer owned 22,741 shares of the company’s stock, valued at $528,500.84. This trade represents a 40.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Healthcare Services Group Trading Down 1.4%

NASDAQ HCSG opened at $21.13 on Friday. The stock has a fifty day simple moving average of $21.58 and a 200-day simple moving average of $21.77. The stock has a market cap of $1.45 billion, a PE ratio of 12.28 and a beta of 0.81. Healthcare Services Group, Inc. has a twelve month low of $16.08 and a twelve month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The firm 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 period in the previous year, the firm earned ($0.44) EPS. Research analysts predict that Healthcare Services Group, Inc. will post 1.14 EPS for the current year.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ:HCSG) provides outsourced support services to healthcare and senior-living facilities in the United States. Its primary customers include skilled nursing facilities, nursing homes, continuing care retirement communities and other healthcare-related organizations.

The company’s services are organized primarily around housekeeping and dining operations. Housekeeping services include cleaning, laundry and related environmental services, while dining services may include food procurement, meal preparation, dietary management and other support for resident and patient meal programs.