Healthcare Services Group, Inc. $HCSG Shares Newly Acquired by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. bought a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 61,590 shares of the business services provider’s stock, valued at approximately $1,260,000.

A number of other institutional investors have also modified their holdings of HCSG. WINTON GROUP Ltd grew its stake in Healthcare Services Group by 6.2% in the second quarter. WINTON GROUP Ltd now owns 66,948 shares of the business services provider’s stock worth $1,644,000 after purchasing an additional 3,904 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Healthcare Services Group during the 2nd quarter worth $160,000. Nykredit A S purchased a new position in Healthcare Services Group during the 2nd quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Healthcare Services Group during the 2nd quarter valued at $533,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Healthcare Services Group during the 2nd quarter valued at $66,000. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Trading Up 2.0%

Shares of NASDAQ HCSG opened at $21.43 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 15.46 and a beta of 0.81. The stock’s fifty day simple moving average is $21.60 and its two-hundred day simple moving average is $21.77. Healthcare Services Group, Inc. has a 12-month low of $16.08 and a 12-month high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $470.81 million for the quarter, compared to analysts’ expectations 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 last year, the business earned ($0.44) EPS. On average, equities analysts predict that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Healthcare Services Group

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 shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares in the company, valued at approximately $528,500.84. The trade was a 40.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HCSG. UBS Group raised their price target on Healthcare Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Robert W. Baird lowered their price objective on shares of Healthcare Services Group from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Oppenheimer assumed coverage on shares of Healthcare Services Group in a report on Wednesday, August 19th. They set an “outperform” rating and a $28.00 target price on the stock. Wall Street Zen cut shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Healthcare Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Healthcare Services Group Company Profile

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.