Palisade Capital Management LP Acquires 20,720 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Palisade Capital Management LP increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,237,866 shares of the business services provider's stock after acquiring an additional 20,720 shares during the period. Palisade Capital Management LP owned about 3.07% of Healthcare Services Group worth $22,558,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in HCSG. SBI Securities Co. Ltd. acquired a new stake in shares of Healthcare Services Group during the 4th quarter valued at about $25,000. Sterling Capital Management LLC boosted its position in shares of Healthcare Services Group by 803.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock valued at $27,000 after acquiring an additional 2,097 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Healthcare Services Group during the 4th quarter valued at about $118,000. PharVision Advisers LLC acquired a new stake in shares of Healthcare Services Group during the 4th quarter valued at about $147,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Healthcare Services Group during the 4th quarter valued at about $158,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. UBS Group upgraded shares of Healthcare Services Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Macquarie boosted their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Healthcare Services Group presently has an average rating of "Moderate Buy" and a consensus target price of $14.80.

Healthcare Services Group Stock Up 2.5%

NASDAQ:HCSG traded up $0.37 on Friday, reaching $15.31. The stock had a trading volume of 293,162 shares, compared to its average volume of 506,330. The company has a market capitalization of $1.12 billion, a P/E ratio of 27.34 and a beta of 0.57. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $15.73. The stock has a fifty day moving average price of $14.51 and a 200-day moving average price of $12.14.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Healthcare Services Group had a net margin of 2.38% and a return on equity of 11.68%. The company had revenue of $447.66 million during the quarter, compared to the consensus estimate of $443.82 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Healthcare Services Group 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.