80,860 Shares in Healthcare Services Group, Inc. (NASDAQ:HCSG) Acquired by Sovereign s Capital Management LLC

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

Several other institutional investors have also recently made changes to their positions in HCSG. Hennion & Walsh Asset Management Inc. grew its position in shares of Healthcare Services Group by 34.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 25,643 shares of the business services provider's stock worth $298,000 after purchasing an additional 6,524 shares in the last quarter. Financial Management Professionals Inc. grew its position in shares of Healthcare Services Group by 32.4% during the fourth quarter. Financial Management Professionals Inc. now owns 10,833 shares of the business services provider's stock worth $126,000 after purchasing an additional 2,653 shares in the last quarter. Legato Capital Management LLC grew its position in shares of Healthcare Services Group by 215.5% during the fourth quarter. Legato Capital Management LLC now owns 139,263 shares of the business services provider's stock worth $1,618,000 after purchasing an additional 95,118 shares in the last quarter. Stanley Laman Group Ltd. grew its position in shares of Healthcare Services Group by 3.0% during the fourth quarter. Stanley Laman Group Ltd. now owns 357,906 shares of the business services provider's stock worth $4,157,000 after purchasing an additional 10,325 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Healthcare Services Group by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 355,419 shares of the business services provider's stock worth $4,128,000 after purchasing an additional 9,492 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG traded down $0.08 during trading on Friday, hitting $14.20. The company had a trading volume of 560,413 shares, compared to its average volume of 502,913. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 26.30 and a beta of 0.55. Healthcare Services Group, Inc. has a one year low of $9.13 and a one year high of $14.90. The company has a fifty day simple moving average of $11.96 and a two-hundred day simple moving average of $11.63.

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

About Healthcare Services Group

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.