GSA Capital Partners LLP Purchases New Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Key Points

• GSA Capital Partners LLP acquired a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by purchasing 99,911 shares valued at approximately $1,007,000 in the first quarter.
• Healthcare Services Group reported $0.21 earnings per share for the quarter, exceeding analysts' estimates of $0.20, with revenue increasing by 7.6% year-over-year.
• Analyst ratings for HCSG have fluctuated, with recent upgrades including a price target increase to $16.00 and a consensus rating of "Moderate Buy."

GSA Capital Partners LLP acquired a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 99,911 shares of the business services provider's stock, valued at approximately $1,007,000. GSA Capital Partners LLP owned approximately 0.14% of Healthcare Services Group as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Healthcare Services Group by 803.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock worth $27,000 after buying an additional 2,097 shares in the last quarter. Bank of Montreal Can acquired a new stake in Healthcare Services Group during the fourth quarter worth about $118,000. PharVision Advisers LLC acquired a new stake in Healthcare Services Group during the fourth quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Healthcare Services Group by 45.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,592 shares of the business services provider's stock worth $147,000 after acquiring an additional 4,548 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Healthcare Services Group in the fourth quarter worth about $158,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group raised shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $12.00 to $15.00 in a report on Thursday, April 24th. Robert W. Baird increased 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 Thursday, July 24th. Benchmark increased their target price on shares of Healthcare Services Group from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Macquarie raised shares of Healthcare Services Group from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $15.00 to $16.00 in a report on Tuesday. Finally, Wall Street Zen lowered shares of Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.

Insider Transactions at Healthcare Services Group

In other Healthcare Services Group news, EVP John Christopher Shea sold 21,368 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.25, for a total transaction of $283,126.00. Following the completion of the transaction, the executive vice president owned 32,976 shares in the company, valued at approximately $436,932. This trade represents a 39.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company's stock.

Healthcare Services Group Price Performance

NASDAQ HCSG traded up $0.06 during trading hours on Friday, reaching $13.07. The company's stock had a trading volume of 924,999 shares, compared to its average volume of 913,511. The firm has a fifty day simple moving average of $14.15 and a 200-day simple moving average of $12.40. The stock has a market cap of $946.40 million, a P/E ratio of 93.36 and a beta of 0.54. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $15.73.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Healthcare Services Group had a net margin of 0.61% and a return on equity of 11.74%. The firm had revenue of $458.50 million during the quarter, compared to analyst estimates of $450.78 million. During the same quarter last year, the business earned $0.20 EPS. The company's revenue was up 7.6% compared to the same quarter last year. On average, research analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.