Ieq Capital LLC Takes $2.93 Million Position in Healthcare Services Group, Inc. $HCSG

Key Points

• Ieq Capital LLC acquired 119,322 shares of Healthcare Services Group valued at approximately $2.93 million, while institutional investors collectively own 97.97% of the company.
• Analyst sentiment is generally positive: Healthcare Services Group has a consensus “Moderate Buy” rating and an average price target of $26.50, compared with a recent price of $22.80.
• The company exceeded quarterly EPS expectations, reporting $0.32 versus the $0.22 consensus estimate, although COO Andrew Kush sold 15,598 shares worth about $362,500.

Ieq Capital LLC purchased a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 119,322 shares of the business services provider's stock, valued at approximately $2,931,000. Ieq Capital LLC owned about 0.17% of Healthcare Services Group as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Healthcare Services Group during the 4th quarter valued at about $33,000. KBC Group NV acquired a new stake in shares of Healthcare Services Group in the first quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Healthcare Services Group by 163.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider's stock valued at $33,000 after buying an additional 1,356 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Healthcare Services Group during the second quarter valued at approximately $55,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Healthcare Services Group by 32.0% during the fourth quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider's stock worth $69,000 after buying an additional 877 shares during the period. Institutional investors and hedge funds own 97.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings upgraded Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Oppenheimer initiated coverage on Healthcare Services Group in a research report on Wednesday, August 19th. They set an "outperform" rating and a $28.00 price target for the company. Wall Street Zen cut Healthcare Services Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group lifted their price target on Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.50.

Insider Transactions at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total value of $362,497.52. Following the transaction, the chief operating officer directly owned 22,741 shares of the company's stock, valued at $528,500.84. This trade represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.90% of the company's stock.

Healthcare Services Group Price Performance

NASDAQ HCSG opened at $22.80 on Tuesday. Healthcare Services Group, Inc. has a 12 month low of $15.13 and a 12 month high of $25.75. The company has a market capitalization of $1.56 billion, a P/E ratio of 13.26 and a beta of 0.81. The company's 50 day simple moving average is $23.31 and its 200 day simple moving average is $21.46.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a net margin of 6.59% and a return on equity of 18.97%. The firm had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. On average, analysts anticipate that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

About Healthcare Services Group

Healthcare Services Group, Inc NASDAQ: HCSG is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.

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