Sei Investments Co. Purchases 149,570 Shares of Healthcare Services Group, Inc. $HCSG

Key Points

• Sei Investments increased its Healthcare Services Group stake by 66.3%, buying 149,570 shares to hold 375,130 shares worth approximately $6.96 million. Institutional investors collectively own 97.97% of HCSG.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $26.20; targets range from $24 to $30.
• HCSG reported quarterly EPS of $0.32, exceeding the $0.22 consensus estimate, while revenue of $470.81 million was roughly in line with expectations. The stock opened at $23.41, compared with a 52-week range of $13.06 to $25.75.

Sei Investments Co. increased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 66.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 375,130 shares of the business services provider's stock after buying an additional 149,570 shares during the period. Sei Investments Co. owned 0.55% of Healthcare Services Group worth $6,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HCSG. Royal Bank of Canada grew its position in Healthcare Services Group by 3.7% in the first quarter. Royal Bank of Canada now owns 139,126 shares of the business services provider's stock worth $1,402,000 after acquiring an additional 4,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Healthcare Services Group by 4.4% in 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 purchasing an additional 1,824 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Healthcare Services Group in the 1st quarter valued at $242,000. Jane Street Group LLC boosted its holdings in Healthcare Services Group by 962.0% in 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. boosted its holdings in Healthcare Services Group by 19.4% in 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.

Wall Street Analysts Forecast Growth

HCSG has been the topic of several analyst reports. Royal Bank Of Canada increased their target price on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 23rd. UBS Group upped their price target 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. BMO Capital Markets upped their price target on Healthcare Services Group from $22.00 to $24.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Wall Street Zen lowered Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Zacks Research downgraded Healthcare Services Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $26.20.

Healthcare Services Group Stock Up 0.5%

HCSG stock opened at $23.41 on Tuesday. Healthcare Services Group, Inc. has a twelve month low of $13.06 and a twelve month high of $25.75. The company has a market cap of $1.61 billion, a PE ratio of 13.61 and a beta of 0.81. The business's 50-day simple moving average is $22.93 and its 200 day simple moving average is $21.13.

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 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The firm had revenue of $470.81 million during the quarter, compared to analysts' expectations of $471.22 million. During the same quarter in the prior year, the firm posted ($0.44) EPS. On average, equities research analysts anticipate that Healthcare Services Group, Inc. will post 1.01 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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