Horizon Investments LLC Invests $631,000 in Healthcare Services Group, Inc. $HCSG

Horizon Investments LLC bought a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,982 shares of the business services provider’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds have also made changes to their positions in HCSG. Allianz Asset Management GmbH boosted its stake in shares of Healthcare Services Group by 229.4% during the third quarter. Allianz Asset Management GmbH now owns 164,380 shares of the business services provider’s stock valued at $2,767,000 after purchasing an additional 114,482 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Healthcare Services Group by 46.6% during the third quarter. JPMorgan Chase & Co. now owns 553,663 shares of the business services provider’s stock valued at $9,318,000 after purchasing an additional 175,880 shares in the last quarter. Bailard Inc. bought a new position in shares of Healthcare Services Group during the third quarter valued at approximately $655,000. American Century Companies Inc. grew its stake in Healthcare Services Group by 38.1% in the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after purchasing an additional 487,608 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in Healthcare Services Group in the third quarter valued at about $1,414,000. 97.97% of the stock is currently owned by institutional investors.

Insider Transactions at Healthcare Services Group

In other news, EVP Patrick J. Orr sold 44,615 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $20.53, for a total transaction of $915,945.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Andrew M. Brophy sold 2,490 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $21.75, for a total value of $54,157.50. Following the sale, the chief accounting officer owned 15,735 shares in the company, valued at $342,236.25. The trade was a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 146,962 shares of company stock worth $3,014,100. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented 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, May 4th. Robert W. Baird set a $23.00 price objective on shares of Healthcare Services Group in a research report on Thursday, February 12th. Benchmark lifted their price objective on shares of Healthcare Services Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. UBS Group lifted their price objective on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Healthcare Services Group Stock Up 3.4%

Shares of Healthcare Services Group stock opened at $23.06 on Friday. The firm’s 50 day moving average price is $20.11 and its 200-day moving average price is $19.35. Healthcare Services Group, Inc. has a 52-week low of $12.66 and a 52-week high of $24.39. The company has a market cap of $1.58 billion, a P/E ratio of 24.02 and a beta of 0.85.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The firm had revenue of $462.77 million for the quarter, compared to the consensus estimate of $479.79 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Healthcare Services Group, Inc. will post 1.01 EPS for the current fiscal year.

Healthcare Services Group Company 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.