Sovereign s Capital Management LLC Invests $939,000 in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Sovereign s Capital Management LLC bought a new position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 80,860 shares of the business services provider's stock, valued at approximately $939,000. Sovereign s Capital Management LLC owned 0.11% of Healthcare Services Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HCSG. Wealthfront Advisers LLC acquired a new stake in Healthcare Services Group during the fourth quarter valued at $166,278,000. Vanguard Group Inc. boosted its position in Healthcare Services Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,276,610 shares of the business services provider's stock valued at $96,133,000 after purchasing an additional 23,373 shares during the last quarter. Royce & Associates LP boosted its position in Healthcare Services Group by 4.9% during the fourth quarter. Royce & Associates LP now owns 4,668,599 shares of the business services provider's stock valued at $54,226,000 after purchasing an additional 219,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Healthcare Services Group by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,523,745 shares of the business services provider's stock valued at $29,313,000 after purchasing an additional 208,810 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Healthcare Services Group by 12.5% during the fourth quarter. Janus Henderson Group PLC now owns 1,266,785 shares of the business services provider's stock valued at $14,714,000 after purchasing an additional 140,708 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company's stock.

Healthcare Services Group Trading Down 1.5%

HCSG traded down $0.22 on Thursday, hitting $14.28. 409,437 shares of the stock traded hands, compared to its average volume of 502,583. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $14.90. The firm has a market capitalization of $1.04 billion, a PE ratio of 26.44 and a beta of 0.55. The business has a fifty day moving average price of $11.89 and a two-hundred day moving average price of $11.61.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The company had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Healthcare Services Group Company 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.