Penn Capital Management Company LLC Cuts Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Penn Capital Management Company LLC lowered its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,369 shares of the business services provider's stock after selling 153,868 shares during the period. Penn Capital Management Company LLC owned approximately 0.47% of Healthcare Services Group worth $3,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Healthcare Services Group by 100.8% during the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider's stock valued at $25,000 after buying an additional 1,073 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Healthcare Services Group in the 4th quarter worth about $25,000. Sterling Capital Management LLC grew its position in Healthcare Services Group by 803.4% during the 4th 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 during the last quarter. Bank of Montreal Can bought a new stake in Healthcare Services Group during the 4th quarter valued at about $118,000. Finally, Ieq Capital LLC purchased a new position in Healthcare Services Group in the fourth quarter worth about $118,000. Institutional investors own 97.97% of the company's stock.

Analyst Upgrades and Downgrades

HCSG has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Macquarie lifted their target price on Healthcare Services Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group raised Healthcare Services Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $12.00 to $15.00 in a report on Thursday, April 24th. Finally, StockNews.com raised shares of Healthcare Services Group from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.80.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG traded up $0.23 during trading on Tuesday, hitting $14.02. The company's stock had a trading volume of 253,326 shares, compared to its average volume of 489,575. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 25.96 and a beta of 0.62. The company has a 50-day moving average of $10.52 and a 200-day moving average of $11.16. Healthcare Services Group, Inc. has a 12 month low of $9.13 and a 12 month high of $14.04.

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 for the quarter, beating the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The company had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. During the same period in the previous year, the business earned $0.22 earnings per share. Healthcare Services Group's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Healthcare Services Group 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.