Ameriprise Financial Inc. Increases Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Ameriprise Financial Inc. increased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 959,293 shares of the business services provider's stock after buying an additional 53,628 shares during the quarter. Ameriprise Financial Inc. owned about 1.31% of Healthcare Services Group worth $11,142,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Healthcare Services Group in the fourth quarter valued at about $25,000. Sterling Capital Management LLC lifted its stake in shares of Healthcare Services Group by 803.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after acquiring an additional 2,097 shares during the period. Ieq Capital LLC acquired a new position in shares of Healthcare Services Group in the 4th quarter worth approximately $118,000. Bank of Montreal Can bought a new stake in Healthcare Services Group during the fourth quarter valued at $118,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Healthcare Services Group by 32.4% during the 4th quarter. Financial Management Professionals Inc. now owns 10,833 shares of the business services provider's stock valued at $126,000 after purchasing an additional 2,653 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Price Performance

Shares of HCSG traded down $0.22 during midday trading on Thursday, hitting $14.28. 409,437 shares of the company traded hands, compared to its average volume of 502,405. The stock has a 50-day moving average of $11.83 and a 200-day moving average of $11.59. The firm has a market cap of $1.04 billion, a P/E ratio of 26.44 and a beta of 0.55. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $14.90.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The business had revenue of $447.66 million for the quarter, compared to analyst estimates of $443.82 million. During the same period in the prior year, the company earned $0.22 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

HCSG has been the subject of several research reports. Wall Street Zen upgraded Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Robert W. Baird boosted their target price on Healthcare Services Group from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Macquarie increased their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, UBS Group raised Healthcare Services Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $12.00 to $15.00 in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.80.

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.