National Bank of Canada FI Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

National Bank of Canada FI lifted its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 15.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,877 shares of the business services provider’s stock after buying an additional 2,853 shares during the period. National Bank of Canada FI’s holdings in Healthcare Services Group were worth $233,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Healthcare Services Group by 804.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after buying an additional 2,428 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Healthcare Services Group by 44.4% in the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after acquiring an additional 955 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Healthcare Services Group by 85.7% during the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after purchasing an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Healthcare Services Group in the 3rd quarter valued at $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Healthcare Services Group in the 2nd quarter valued at $124,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

NASDAQ:HCSG opened at $12.37 on Tuesday. The company’s 50-day moving average is $11.53 and its two-hundred day moving average is $11.05. Healthcare Services Group, Inc. has a 1-year low of $8.98 and a 1-year high of $13.00. The firm has a market capitalization of $906.61 million, a price-to-earnings ratio of 17.93 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $428.10 million during the quarter, compared to analyst estimates of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. As a group, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HCSG shares. Benchmark reaffirmed a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, October 24th. Macquarie started coverage on shares of Healthcare Services Group in a report on Monday. They issued a “neutral” rating and a $13.00 price objective for the company. Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com cut Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.80.

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.