Dark Forest Capital Management LP Buys New Shares in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Dark Forest Capital Management LP bought a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,604 shares of the business services provider’s stock, valued at approximately $158,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Healthcare Services Group by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider’s stock valued at $8,642,000 after acquiring an additional 76,456 shares during the period. Global Alpha Capital Management Ltd. acquired a new position in shares of Healthcare Services Group in the 4th quarter valued at $822,000. Franklin Resources Inc. boosted its holdings in Healthcare Services Group by 39.9% in the third quarter. Franklin Resources Inc. now owns 560,588 shares of the business services provider’s stock valued at $5,858,000 after purchasing an additional 159,878 shares during the last quarter. Barclays PLC boosted its holdings in Healthcare Services Group by 169.3% in the third quarter. Barclays PLC now owns 145,926 shares of the business services provider’s stock valued at $1,631,000 after purchasing an additional 91,733 shares during the last quarter. Finally, Legato Capital Management LLC boosted its holdings in Healthcare Services Group by 215.5% in the fourth quarter. Legato Capital Management LLC now owns 139,263 shares of the business services provider’s stock valued at $1,618,000 after purchasing an additional 95,118 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Stock Up 1.7 %

HCSG stock opened at $14.03 on Wednesday. The company’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $11.18. Healthcare Services Group, Inc. has a 52-week low of $9.13 and a 52-week high of $14.17. The firm has a market cap of $1.02 billion, a P/E ratio of 25.98 and a beta of 0.62.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The firm had revenue of $447.66 million during the quarter, compared to the consensus estimate of $443.82 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HCSG shares. UBS Group raised shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $15.00 in a report on Thursday, April 24th. StockNews.com raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Macquarie upped their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday. Finally, Robert W. Baird upped their price target on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Healthcare Services Group currently has an average rating of “Moderate Buy” and an average target price of $14.80.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.