PDT Partners LLC Reduces Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

PDT Partners LLC trimmed its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 38.3% in the third quarter, Holdings Channel.com reports. The fund owned 42,669 shares of the business services provider’s stock after selling 26,520 shares during the period. PDT Partners LLC’s holdings in Healthcare Services Group were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC acquired a new stake in shares of Healthcare Services Group in the third quarter valued at $9,166,000. Azarias Capital Management L.P. raised its position in Healthcare Services Group by 50.7% during the second quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after buying an additional 412,704 shares during the period. Foundry Partners LLC raised its position in Healthcare Services Group by 86.5% during the third quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after buying an additional 374,301 shares during the period. Royce & Associates LP raised its position in Healthcare Services Group by 7.0% during the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after buying an additional 290,621 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock worth $21,766,000 after purchasing an additional 181,231 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, October 24th. Robert W. Baird reduced their price objective on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.00.

Healthcare Services Group Price Performance

HCSG stock opened at $12.53 on Wednesday. The stock has a market capitalization of $918.32 million, a P/E ratio of 18.16 and a beta of 0.55. The business has a 50-day moving average of $11.16 and a 200-day moving average of $10.95. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $428.10 million for the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities analysts expect that Healthcare Services Group, Inc. will post 0.81 EPS for the current year.

Healthcare Services Group Company Profile

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.