Jacobs Levy Equity Management Inc. Purchases Shares of 456,418 Healthcare Services Group, Inc. $HCSG

Key Points

• Jacobs Levy Equity Management Inc. acquired 456,418 shares of Healthcare Services Group, valued at approximately $4.6 million, representing ownership of 0.63% of the company as of the last reporting period.
• Healthcare Services Group reported earnings per share of $0.21 for the recent quarter, beating analysts' expectations, with revenue of $458.5 million, which was up 7.6% compared to the previous year.
• Analyst ratings for Healthcare Services Group vary, with Macquarie upgrading the stock from "neutral" to "outperform" and increasing its price target from $15.00 to $16.00.

Jacobs Levy Equity Management Inc. acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 456,418 shares of the business services provider's stock, valued at approximately $4,601,000. Jacobs Levy Equity Management Inc. owned 0.63% of Healthcare Services Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Healthcare Services Group by 1,152.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,643 shares of the business services provider's stock worth $1,680,000 after buying an additional 153,333 shares during the period. American Century Companies Inc. boosted its position in shares of Healthcare Services Group by 190.1% during the first quarter. American Century Companies Inc. now owns 451,936 shares of the business services provider's stock worth $4,556,000 after buying an additional 296,159 shares during the period. Mackenzie Financial Corp boosted its position in shares of Healthcare Services Group by 0.8% during the first quarter. Mackenzie Financial Corp now owns 4,128,934 shares of the business services provider's stock worth $41,620,000 after buying an additional 34,037 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Healthcare Services Group during the first quarter worth approximately $1,121,000. Finally, Palisade Capital Management LP boosted its position in shares of Healthcare Services Group by 0.9% during the first quarter. Palisade Capital Management LP now owns 2,237,866 shares of the business services provider's stock worth $22,558,000 after buying an additional 20,720 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Benchmark boosted their price objective on Healthcare Services Group from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Macquarie upgraded Healthcare Services Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $15.00 to $16.00 in a research report on Tuesday, July 29th. Zacks Research raised Healthcare Services Group to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Robert W. Baird boosted their target price on Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.25.

Insider Activity

In other Healthcare Services Group news, EVP John Christopher Shea sold 21,368 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.25, for a total value of $283,126.00. Following the transaction, the executive vice president owned 32,976 shares of the company's stock, valued at approximately $436,932. This represents a 39.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Healthcare Services Group Trading Down 3.1%

NASDAQ:HCSG traded down $0.52 during midday trading on Friday, hitting $16.02. 646,165 shares of the stock were exchanged, compared to its average volume of 606,235. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $16.59. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 114.43 and a beta of 0.66. The business has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $13.31.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $458.50 million for the quarter, compared to analysts' expectations of $450.78 million. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%.The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Healthcare Services Group has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Healthcare Services Group 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.