Voloridge Investment Management LLC Reduces Stock Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Voloridge Investment Management LLC lowered its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 72.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,793 shares of the business services provider's stock after selling 47,306 shares during the period. Voloridge Investment Management LLC's holdings in Healthcare Services Group were worth $207,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Healthcare Services Group by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,880 shares of the business services provider's stock worth $486,000 after acquiring an additional 1,461 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Healthcare Services Group by 803.4% during the fourth quarter. Sterling Capital Management LLC now owns 2,358 shares of the business services provider's stock valued at $27,000 after purchasing an additional 2,097 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $25,000. MetLife Investment Management LLC increased its position in shares of Healthcare Services Group by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 46,091 shares of the business services provider's stock valued at $535,000 after purchasing an additional 2,465 shares during the period. Finally, Redmond Asset Management LLC lifted its holdings in Healthcare Services Group by 2.3% in the 4th quarter. Redmond Asset Management LLC now owns 118,756 shares of the business services provider's stock valued at $1,379,000 after acquiring an additional 2,614 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company's stock.

Healthcare Services Group Stock Performance

Shares of HCSG stock traded up $0.13 during mid-day trading on Wednesday, hitting $14.25. The company's stock had a trading volume of 830,667 shares, compared to its average volume of 499,347. The company has a market cap of $1.04 billion, a PE ratio of 26.39 and a beta of 0.55. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $14.90. The company's fifty day simple moving average is $12.54 and its 200-day simple moving average is $11.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its earnings results 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 company 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%. Healthcare Services Group's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.