Meros Investment Management LP Purchases Shares of 289,597 Healthcare Services Group, Inc. $HCSG

Meros Investment Management LP acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 289,597 shares of the business services provider’s stock, valued at approximately $7,112,502,000. Healthcare Services Group makes up approximately 2.3% of Meros Investment Management LP’s investment portfolio, making the stock its 15th biggest position. Meros Investment Management LP owned approximately 0.42% of Healthcare Services Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HCSG. BlackRock Inc. acquired a new position in shares of Healthcare Services Group in the 2nd quarter valued at $279,379,000. Dimensional Fund Advisors LP raised its stake in Healthcare Services Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider’s stock worth $44,534,000 after acquiring an additional 62,689 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Healthcare Services Group by 80.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock worth $33,354,000 after acquiring an additional 882,213 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Healthcare Services Group by 12.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,475,369 shares of the business services provider’s stock valued at $28,209,000 after acquiring an additional 158,261 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in 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 acquiring 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 Stock Performance

Shares of HCSG opened at $22.94 on Wednesday. Healthcare Services Group, Inc. has a fifty-two week low of $15.13 and a fifty-two week high of $25.75. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 13.34 and a beta of 0.81. The firm has a 50-day simple moving average of $23.32 and a 200-day simple moving average of $21.49.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results 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 analysts’ expectations of $471.22 million. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.During the same quarter in the previous year, the firm posted ($0.44) EPS. Equities research analysts forecast that Healthcare Services Group, Inc. will post 1.14 EPS for the current year.

Insiders Place Their Bets

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 approximately $528,500.84. This trade represents a 40.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HCSG shares. Weiss Ratings raised Healthcare Services Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. UBS Group lifted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Zacks Research upgraded Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, 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 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

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.