Triasima Portfolio Management inc. Acquires New Stake in Healthcare Services Group, Inc. $HCSG

Key Points

• Triasima Portfolio Management acquired 61,590 shares of Healthcare Services Group, valued at approximately $1.26 million, representing about 0.09% of the company.
• Institutional investors hold nearly 98% of HCSG’s outstanding stock, with BlackRock, Dimensional Fund Advisors and Arrowstreet Capital among notable holders or recent buyers.
• HCSG reported quarterly EPS of $0.32, beating estimates of $0.22, while analysts maintain a “Moderate Buy” consensus with an average price target of $26.67 versus a recent share price of $21.43.

Triasima Portfolio Management inc. acquired a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,590 shares of the business services provider's stock, valued at approximately $1,260,000. Triasima Portfolio Management inc. owned about 0.09% of Healthcare Services Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Healthcare Services Group during the 2nd quarter valued at $279,379,000. Dimensional Fund Advisors LP boosted its stake in Healthcare Services Group by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,400,681 shares of the business services provider's stock worth $44,534,000 after buying an additional 62,689 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Healthcare Services Group by 454.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,405,952 shares of the business services provider's stock valued at $26,080,000 after acquiring an additional 1,152,176 shares during the last quarter. Jupiter Topco LLC bought a new position in Healthcare Services Group during the second quarter valued at $22,406,000. Finally, Palisade Capital Management LP bought a new position in Healthcare Services Group during the second quarter valued at $17,845,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Performance

Shares of NASDAQ HCSG opened at $21.43 on Friday. Healthcare Services Group, Inc. has a fifty-two week low of $16.08 and a fifty-two week high of $25.75. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 15.46 and a beta of 0.81. The business's 50 day moving average price is $21.60 and its 200-day moving average price is $21.77.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.10. The company had revenue of $470.81 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned ($0.44) EPS. Sell-side analysts predict that Healthcare Services Group, Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HCSG shares. Zacks Research downgraded shares of Healthcare Services Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Wall Street Zen cut shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Robert W. Baird dropped their price target on shares of Healthcare Services Group from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, October 8th. UBS Group upped their price target on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 25th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

Insider Buying and Selling at Healthcare Services Group

In other news, COO Andrew Kush sold 15,598 shares of Healthcare Services Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $23.24, for a total transaction of $362,497.52. Following the completion of the sale, the chief operating officer directly owned 22,741 shares in the company, valued at approximately $528,500.84. This trade represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company's stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc NASDAQ: HCSG provides outsourced support services to healthcare and senior-living facilities in the United States. Its primary customers include skilled nursing facilities, nursing homes, continuing care retirement communities and other healthcare-related organizations.

The company's services are organized primarily around housekeeping and dining operations. Housekeeping services include cleaning, laundry and related environmental services, while dining services may include food procurement, meal preparation, dietary management and other support for resident and patient meal programs.

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