Financial Management Professionals Inc. Buys 3,774 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Financial Management Professionals Inc. grew its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 85.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,180 shares of the business services provider’s stock after buying an additional 3,774 shares during the period. Financial Management Professionals Inc.’s holdings in Healthcare Services Group were worth $91,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its stake in Healthcare Services Group by 62.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,119 shares of the business services provider’s stock worth $214,000 after acquiring an additional 7,362 shares during the period. International Assets Investment Management LLC increased its stake in shares of Healthcare Services Group by 1,017.5% in the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock worth $1,150,000 after purchasing an additional 9,371 shares in the last quarter. Stanley Laman Group Ltd. raised its position in shares of Healthcare Services Group by 1.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 347,581 shares of the business services provider’s stock valued at $3,882,000 after purchasing an additional 4,126 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in shares of Healthcare Services Group by 54.3% during the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 54,000 shares of the business services provider’s stock valued at $603,000 after buying an additional 19,000 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in shares of Healthcare Services Group during the 3rd quarter valued at $116,000. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HCSG shares. Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a report on Thursday. Royal Bank of Canada cut their target price on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Robert W. Baird lowered their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Healthcare Services Group currently has an average rating of “Hold” and an average price target of $14.00.

Healthcare Services Group Stock Up 0.4 %

HCSG opened at $10.74 on Friday. Healthcare Services Group, Inc. has a 52 week low of $8.94 and a 52 week high of $13.00. The firm has a 50-day simple moving average of $10.72 and a two-hundred day simple moving average of $10.87. The company has a market capitalization of $788.10 million, a PE ratio of 24.98 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.78 earnings per share for the current year.

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.