Pacer Advisors Inc. Grows Position in Healthcare Services Group, Inc. $HCSG

Pacer Advisors Inc. increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 25.9% in the fourth quarter, Holdings Channel reports. The firm owned 319,585 shares of the business services provider’s stock after buying an additional 65,649 shares during the period. Pacer Advisors Inc.’s holdings in Healthcare Services Group were worth $6,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HCSG. 8 Knots Management LLC purchased a new position in Healthcare Services Group during the third quarter worth about $56,527,000. Ameriprise Financial Inc. raised its stake in shares of Healthcare Services Group by 80.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after acquiring an additional 882,213 shares during the period. American Century Companies Inc. lifted its holdings in shares of Healthcare Services Group by 38.1% in the 3rd quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock worth $29,732,000 after acquiring an additional 487,608 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Healthcare Services Group by 1,116.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 448,806 shares of the business services provider’s stock worth $6,746,000 after acquiring an additional 411,908 shares during the last quarter. Finally, Towle & Co. purchased a new position in shares of Healthcare Services Group during the 4th quarter worth approximately $7,396,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Down 1.7%

Shares of HCSG opened at $22.54 on Tuesday. The company has a market cap of $1.55 billion, a P/E ratio of 23.48 and a beta of 0.82. Healthcare Services Group, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.39. The firm’s 50 day moving average price is $21.10 and its 200 day moving average price is $20.09.

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

Analyst Ratings Changes

A number of brokerages have issued reports on HCSG. Benchmark boosted their target price on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. BMO Capital Markets raised their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Zacks Research raised Healthcare Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price objective on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. Finally, UBS Group increased their target price on Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

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.