Jupiter Topco LLC Takes $22.41 Million Position in Healthcare Services Group, Inc. $HCSG

Key Points

• Jupiter Topco LLC acquired 912,261 shares of Healthcare Services Group, worth approximately $22.41 million, giving it a 1.33% stake. Institutional investors collectively own 97.97% of HCSG.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $26.50; recent targets included $28 from Oppenheimer and $30 from UBS.
• HCSG reported quarterly EPS of $0.32, beating the $0.22 consensus estimate, while revenue reached $470.81 million. The stock opened at $22.44, down 2.2%, with a market capitalization of about $1.54 billion.

Jupiter Topco LLC acquired a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 912,261 shares of the business services provider's stock, valued at approximately $22,406,000. Jupiter Topco LLC owned approximately 1.33% of Healthcare Services Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in HCSG. Royal Bank of Canada raised its holdings in shares of Healthcare Services Group by 3.7% in the 1st quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider's stock valued at $1,402,000 after acquiring an additional 4,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Healthcare Services Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,704 shares of the business services provider's stock valued at $441,000 after acquiring an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Healthcare Services Group during the first quarter worth about $242,000. Jane Street Group LLC grew its holdings in shares of Healthcare Services Group by 962.0% during the first quarter. Jane Street Group LLC now owns 200,082 shares of the business services provider's stock worth $2,017,000 after purchasing an additional 181,242 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Healthcare Services Group by 19.4% during the second quarter. Invesco Ltd. now owns 747,822 shares of the business services provider's stock worth $11,240,000 after purchasing an additional 121,263 shares in the last quarter. Institutional investors own 97.97% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

HCSG has been the topic of a number of recent analyst reports. Zacks Research raised shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. UBS Group boosted their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Finally, Oppenheimer initiated coverage on shares of Healthcare Services Group in a research report on Wednesday, August 19th. They set an "outperform" rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Healthcare Services Group Trading Down 2.2%

HCSG opened at $22.44 on Friday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 13.05 and a beta of 0.81. The stock has a 50-day moving average price of $23.32 and a 200-day moving average price of $21.54. Healthcare Services Group, Inc. has a 12-month low of $15.13 and a 12-month high of $25.75.

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