61,100 Shares in Healthcare Services Group, Inc. $HCSG Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board purchased 61,100 Healthcare Services Group shares worth approximately $1.5 million, while institutional investors collectively own 97.97% of the company.
• Healthcare Services Group exceeded quarterly earnings expectations, reporting $0.32 EPS versus the $0.22 consensus estimate, though revenue of $470.81 million was slightly below forecasts.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and a $26.50 average price target; the stock recently opened at $21.99.

Canada Pension Plan Investment Board bought a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 61,100 shares of the business services provider's stock, valued at approximately $1,501,000. Canada Pension Plan Investment Board owned 0.09% of Healthcare Services Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in Healthcare Services Group by 3.7% during the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider's stock valued at $1,402,000 after buying an additional 4,917 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Healthcare Services Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider's stock valued at $441,000 after buying an additional 1,824 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Healthcare Services Group in the first quarter worth $242,000. Jane Street Group LLC increased its position in shares of Healthcare Services Group by 962.0% in the 1st quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider's stock valued at $2,017,000 after acquiring an additional 181,242 shares during the period. Finally, Invesco Ltd. raised its stake in Healthcare Services Group by 19.4% in the 2nd quarter. Invesco Ltd. now owns 747,822 shares of the business services provider's stock worth $11,240,000 after acquiring an additional 121,263 shares during the last quarter. Institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG opened at $21.99 on Tuesday. Healthcare Services Group, Inc. has a one year low of $15.13 and a one year high of $25.75. The firm has a fifty day moving average of $23.30 and a 200 day moving average of $21.58. The firm has a market cap of $1.51 billion, a PE ratio of 12.78 and a beta of 0.81.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The company had revenue of $470.81 million during the quarter, compared to analyst estimates of $471.22 million. During the same period in the previous year, the business earned ($0.44) EPS. On average, equities analysts predict that Healthcare Services Group, Inc. will post 1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings raised Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. UBS Group upped their target price on Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Oppenheimer assumed coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They set an "outperform" rating and a $28.00 price target for the company. Wall Street Zen lowered shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Zacks Research raised shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Insider Buying and Selling

In other Healthcare Services Group news, COO Andrew Kush sold 15,598 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the sale, the chief operating officer owned 22,741 shares of the company's stock, valued at $528,500.84. The trade was a 40.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company's stock.

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.

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