289,597 Shares in Healthcare Services Group, Inc. $HCSG Bought by Meros Investment Management LP

Meros Investment Management LP acquired a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 289,597 shares of the business services provider's stock, valued at approximately $7,112,502. Healthcare Services Group comprises 0.0% of Meros Investment Management LP's portfolio, making the stock its 15th largest position. Meros Investment Management LP owned about 0.42% of Healthcare Services Group at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Healthcare Services Group during the second quarter worth $279,379,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Healthcare Services Group by 454.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider's stock valued at $26,080,000 after acquiring an additional 1,152,176 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Healthcare Services Group by 80.2% in the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider's stock worth $33,354,000 after buying an additional 882,213 shares during the period. Palisade Capital Management LP acquired a new stake in Healthcare Services Group during the second quarter worth about $17,845,000. Finally, Bank of New York Mellon Corp bought a new position in Healthcare Services Group during the second quarter valued at about $10,438,000. Institutional investors own 97.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCSG. UBS Group boosted their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. 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 target price for the company. Zacks Research upgraded shares of Healthcare Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Healthcare Services Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.50.

Insiders Place Their Bets

In other news, COO Andrew Kush sold 15,598 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total value of $362,497.52. Following the sale, the chief operating officer directly owned 22,741 shares of the company's stock, valued at $528,500.84. The trade was a 40.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.90% of the company's stock.

Healthcare Services Group Trading Down 2.5%

Shares of NASDAQ HCSG traded down $0.58 during midday trading on Friday, reaching $22.36. The company's stock had a trading volume of 381,315 shares, compared to its average volume of 732,020. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 13.00 and a beta of 0.81. The company has a 50 day moving average price of $23.33 and a 200 day moving average price of $21.54. Healthcare Services Group, Inc. has a one year low of $15.13 and a one year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The business had revenue of $470.81 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted ($0.44) earnings per share. Research analysts anticipate that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Healthcare Services Group Profile

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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