Invenomic Capital Management LP Increases Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Invenomic Capital Management LP lifted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 67.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 483,511 shares of the business services provider's stock after buying an additional 195,516 shares during the period. Invenomic Capital Management LP owned about 0.66% of Healthcare Services Group worth $5,616,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Healthcare Services Group Price Performance

Shares of HCSG stock traded up $0.17 during mid-day trading on Thursday, hitting $14.46. The company had a trading volume of 520,640 shares, compared to its average volume of 503,222. The stock's 50 day moving average price is $11.45 and its 200-day moving average price is $11.47. Healthcare Services Group, Inc. has a 52-week low of $9.13 and a 52-week high of $14.90. The company has a market capitalization of $1.05 billion, a P/E ratio of 26.78 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The company had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. Healthcare Services Group's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, equities research analysts expect 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.