Trail Ridge Investment Advisors LLC Makes New $625,000 Investment in Healthcare Services Group, Inc. $HCSG

Trail Ridge Investment Advisors LLC purchased a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,448 shares of the business services provider’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HCSG. Royal Bank of Canada boosted its holdings in Healthcare Services Group by 3.7% during the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider’s stock worth $1,402,000 after purchasing an additional 4,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Healthcare Services Group by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider’s stock valued at $441,000 after buying an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Healthcare Services Group during the 1st quarter worth about $242,000. Jane Street Group LLC boosted its stake in shares of Healthcare Services Group by 962.0% during the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider’s stock worth $2,017,000 after buying an additional 181,242 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Healthcare Services Group by 19.4% during the 2nd quarter. Invesco Ltd. now owns 747,822 shares of the business services provider’s stock worth $11,240,000 after buying an additional 121,263 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Healthcare Services Group

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares in the company, valued at $528,500.84. The trade was a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HCSG. Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Oppenheimer initiated coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 price target on the stock. Zacks Research raised shares of Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, UBS Group boosted their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.50.

Healthcare Services Group Stock Up 0.1%

HCSG opened at $22.80 on Tuesday. Healthcare Services Group, Inc. has a 12-month low of $15.13 and a 12-month high of $25.75. The business has a 50 day moving average of $23.31 and a 200-day moving average of $21.46. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 13.26 and a beta of 0.81.

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 analysts’ consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The business had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. During the same period in the previous year, the firm earned ($0.44) EPS. As a group, analysts expect that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

Healthcare Services Group 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.