46,676 Shares in Healthcare Services Group, Inc. $HCSG Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC purchased 46,676 shares of Healthcare Services Group during the second quarter, worth approximately $1.15 million. Institutional investors collectively own 97.97% of HCSG’s outstanding stock.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $26.50, with targets including UBS’s $30 and Oppenheimer’s $28.
• Healthcare Services Group beat quarterly earnings expectations, posting $0.32 in EPS versus the $0.22 consensus, while revenue of $470.81 million was roughly in line with estimates. Separately, COO Andrew Kush sold 15,598 shares at an average price of $23.24.

Hsbc Holdings PLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 46,676 shares of the business services provider's stock, valued at approximately $1,152,000. Hsbc Holdings PLC owned about 0.07% of Healthcare Services Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HCSG. Cetera Investment Advisers boosted its position in shares of Healthcare Services Group by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 14,052 shares of the business services provider's stock valued at $269,000 after acquiring an additional 581 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Healthcare Services Group by 3.8% during the fourth quarter. Sanctuary Advisors LLC now owns 20,151 shares of the business services provider's stock worth $385,000 after purchasing an additional 738 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Healthcare Services Group by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider's stock worth $69,000 after purchasing an additional 877 shares during the last quarter. LPL Financial LLC increased its position in shares of Healthcare Services Group by 8.2% in the fourth quarter. LPL Financial LLC now owns 11,802 shares of the business services provider's stock worth $226,000 after purchasing an additional 895 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Healthcare Services Group by 0.5% in the third quarter. Legal & General Group Plc now owns 200,393 shares of the business services provider's stock valued at $3,373,000 after purchasing an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

Wall Street Analyst Weigh In

HCSG has been the subject of a number of research reports. Wall Street Zen cut shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. UBS Group lifted their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Finally, Oppenheimer initiated coverage on Healthcare Services Group in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $28.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.50.

Insider Activity

In other news, COO Andrew Kush sold 15,598 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the completion of the sale, the chief operating officer owned 22,741 shares of the company's stock, valued at approximately $528,500.84. This represents a 40.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company's stock.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $21.99 on Tuesday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.78 and a beta of 0.81. The business has a 50 day moving average of $23.30 and a 200 day moving average of $21.58. Healthcare Services Group, Inc. has a 1-year low of $15.13 and a 1-year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.10. The business had revenue of $470.81 million for the quarter, compared to analysts' expectations of $471.22 million. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. During the same period last year, the business earned ($0.44) earnings per share. As a group, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 1.14 EPS for the current year.

About Healthcare Services Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source