Heartland Advisors Inc. Has $5.76 Million Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Key Points

• Heartland Advisors Inc. increased its stake in Healthcare Services Group by 14.3%, acquiring an additional 71,534 shares, bringing their total ownership to approximately 0.78% of the company's stock, valued at $5.76 million.
• Healthcare Services Group reported a quarterly earnings per share (EPS) of $0.21, beating expectations, with revenues of $458.50 million, representing a 7.6% increase year-over-year.
• Wall Street analysts have raised their price targets for HCSG, with ratings varying from "hold" to "buy," and a consensus target price of $16.00 reflecting positive growth outlook for the stock.

Heartland Advisors Inc. increased its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 571,250 shares of the business services provider's stock after purchasing an additional 71,534 shares during the quarter. Heartland Advisors Inc. owned approximately 0.78% of Healthcare Services Group worth $5,758,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in 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 during the period. Bank of Montreal Can acquired a new position in Healthcare Services Group in the fourth quarter valued at $118,000. PharVision Advisers LLC acquired a new position in Healthcare Services Group in the fourth quarter valued at $147,000. Dark Forest Capital Management LP acquired a new position in Healthcare Services Group in the fourth quarter valued at $158,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Healthcare Services Group in the fourth quarter valued at $167,000. Institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG traded up $0.25 during trading on Wednesday, hitting $13.52. 204,326 shares of the company traded hands, compared to its average volume of 642,471. The business's fifty day moving average is $14.22 and its 200 day moving average is $12.38. Healthcare Services Group, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $15.73. The firm has a market capitalization of $978.98 million, a price-to-earnings ratio of 96.50 and a beta of 0.57.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $450.78 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Macquarie upgraded shares of Healthcare Services Group from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $15.00 to $16.00 in a report on Tuesday. Wall Street Zen lowered shares of Healthcare Services Group from a "strong-buy" rating to a "buy" rating in a report on Saturday. UBS Group upgraded shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $12.00 to $15.00 in a report on Thursday, April 24th. Finally, Benchmark upped their price objective on shares of Healthcare Services Group from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $16.25.

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.