Federated Hermes Inc. Reduces Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Federated Hermes Inc. trimmed its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,942 shares of the business services provider’s stock after selling 19,619 shares during the period. Federated Hermes Inc. owned about 0.07% of Healthcare Services Group worth $508,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HCSG. International Assets Investment Management LLC acquired a new position in shares of Healthcare Services Group in the fourth quarter valued at approximately $921,000. Corton Capital Inc. purchased a new position in shares of Healthcare Services Group during the 3rd quarter worth $129,000. MQS Management LLC acquired a new stake in shares of Healthcare Services Group during the third quarter worth $152,000. Teza Capital Management LLC purchased a new stake in shares of Healthcare Services Group in the third quarter valued at $241,000. Finally, Everence Capital Management Inc. increased its stake in Healthcare Services Group by 100.9% in the fourth quarter. Everence Capital Management Inc. now owns 24,290 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 12,200 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group Stock Up 1.2 %

Shares of HCSG stock opened at $10.82 on Friday. Healthcare Services Group, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $15.42. The firm’s 50 day moving average price is $12.03 and its two-hundred day moving average price is $10.75. The stock has a market cap of $796.89 million, a price-to-earnings ratio of 18.98 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, April 24th. The business services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. Healthcare Services Group had a net margin of 2.44% and a return on equity of 11.44%. The business had revenue of $423.40 million for the quarter, compared to analyst estimates of $424.91 million. During the same quarter in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast that Healthcare Services Group, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

HCSG has been the topic of a number of research analyst reports. Benchmark raised their price target on Healthcare Services Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Robert W. Baird upped their price target on shares of Healthcare Services Group from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. UBS Group lifted their price target on shares of Healthcare Services Group from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Royal Bank of Canada upped their price objective on Healthcare Services Group from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, StockNews.com upgraded Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Healthcare Services Group currently has an average rating of “Hold” and a consensus price target of $14.50.

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.