Healthcare Services Group, Inc. (NASDAQ:HCSG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,105 shares of the business services provider's stock after selling 206,942 shares during the quarter. Bank of America Corp DE owned 0.12% of Healthcare Services Group worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HCSG. SBI Securities Co. Ltd. purchased a new stake in shares of Healthcare Services Group in the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC boosted 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 valued at $27,000 after buying an additional 2,097 shares in the last quarter. Ieq Capital LLC purchased a new stake in Healthcare Services Group during the fourth quarter worth $118,000. Bank of Montreal Can purchased a new stake in Healthcare Services Group during the fourth quarter worth $118,000. Finally, Dark Forest Capital Management LP purchased a new stake in Healthcare Services Group during the fourth quarter worth $158,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on HCSG. Macquarie boosted their target price on Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Robert W. Baird boosted their price target on Healthcare Services Group from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. UBS Group upgraded Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Healthcare Services Group from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Healthcare Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $14.80.

Healthcare Services Group Stock Performance

Healthcare Services Group stock traded up $0.20 during trading on Wednesday, hitting $14.78. The company's stock had a trading volume of 792,135 shares, compared to its average volume of 504,918. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 27.37 and a beta of 0.55. The stock's fifty day moving average is $12.98 and its 200 day moving average is $11.86. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $14.90.

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

About Healthcare Services Group

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.