Tidal Investments LLC Has $3.11 Million Holdings in Healthcare Services Group, Inc. $HCSG

Key Points

• Tidal Investments reduced its Healthcare Services Group stake by 42.1% in the second quarter, selling 92,309 shares and retaining 126,700 shares valued at approximately $3.11 million. Institutional investors and hedge funds collectively own 97.97% of HCSG.
• Healthcare Services Group’s COO Andrew Kush sold 15,598 shares for about $362,500, reducing his holdings by 40.68%; insiders own 2.90% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $26.50 price target. HCSG recently reported quarterly EPS of $0.32, beating estimates of $0.22, while shares opened at $21.91.

Tidal Investments LLC cut its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 42.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,700 shares of the business services provider's stock after selling 92,309 shares during the quarter. Tidal Investments LLC owned 0.18% of Healthcare Services Group worth $3,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HCSG. Nykredit A S acquired a new stake in shares of Healthcare Services Group during the second quarter valued at approximately $28,000. Jupiter Asset Management Ltd. grew its position in Healthcare Services Group by 1.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 140,895 shares of the business services provider's stock worth $2,694,000 after purchasing an additional 1,839 shares in the last quarter. KBC Group NV acquired a new stake in Healthcare Services Group during the 1st quarter valued at $35,000. Sanctuary Advisors LLC raised its stake in Healthcare Services Group by 9.7% during the 1st quarter. Sanctuary Advisors LLC now owns 22,098 shares of the business services provider's stock valued at $410,000 after purchasing an additional 1,947 shares during the period. Finally, Allworth Financial LP purchased a new stake in shares of Healthcare Services Group in the second quarter valued at $55,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $23.24, for a total transaction of $362,497.52. Following the transaction, the chief operating officer owned 22,741 shares in the company, valued at approximately $528,500.84. The trade was a 40.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HCSG has been the subject of several recent analyst reports. UBS Group raised their target price on Healthcare Services Group from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Zacks Research raised 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 note on Saturday, August 1st. Weiss Ratings lowered Healthcare Services Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 9th. Finally, Oppenheimer started coverage on Healthcare Services Group in a research note on Wednesday, August 19th. They set an "outperform" rating and a $28.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Healthcare Services Group Stock Down 0.6%

Healthcare Services Group stock opened at $21.91 on Wednesday. Healthcare Services Group, Inc. has a 12 month low of $15.13 and a 12 month high of $25.75. The stock has a market cap of $1.50 billion, a P/E ratio of 12.74 and a beta of 0.80. The company's fifty day simple moving average is $22.76 and its 200-day simple moving average is $21.63.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company posted ($0.44) earnings per share. On average, equities research analysts expect 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 provides outsourced support services to healthcare and senior living facilities across the United States. Its primary customers include nursing homes, post-acute care centers, hospitals, assisted living communities and other healthcare-related facilities.

The company operates through two principal service areas. Its environmental services business provides housekeeping, laundry and linen management, waste handling and related services. Its dietary services business supports food procurement, meal preparation, dining operations and nutrition-related programs for residents and patients.

Healthcare Services Group was founded in 1976 and has historically focused on helping healthcare providers manage nonclinical operations through contract-based services.

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