Bank of America Corp DE Has $1 Million Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Bank of America Corp DE reduced its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 70.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 86,105 shares of the business services provider's stock after selling 206,942 shares during the period. Bank of America Corp DE owned approximately 0.12% of Healthcare Services Group worth $1,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its holdings in shares of Healthcare Services Group by 5.9% in the fourth quarter. Ameriprise Financial Inc. now owns 959,293 shares of the business services provider's stock valued at $11,142,000 after purchasing an additional 53,628 shares during the last quarter. PDT Partners LLC grew its stake in shares of Healthcare Services Group by 80.4% in the fourth quarter. PDT Partners LLC now owns 76,992 shares of the business services provider's stock valued at $894,000 after buying an additional 34,323 shares in the last quarter. Northern Trust Corp grew its stake in shares of Healthcare Services Group by 8.4% in the fourth quarter. Northern Trust Corp now owns 771,772 shares of the business services provider's stock valued at $8,964,000 after buying an additional 59,829 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Healthcare Services Group in the fourth quarter valued at $1,891,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Healthcare Services Group by 17.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 55,654 shares of the business services provider's stock valued at $647,000 after buying an additional 8,074 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $14.44 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of 26.74 and a beta of 0.55. The stock's fifty day moving average price is $12.71 and its two-hundred day moving average price is $11.80. 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 released its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $447.66 million during the quarter, compared to analysts' expectations of $443.82 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal 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.

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