Invenomic Capital Management LP Takes $3.22 Million Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Invenomic Capital Management LP purchased a new position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, HoldingsChannel reports. The firm purchased 287,995 shares of the business services provider’s stock, valued at approximately $3,217,000.

Several other large investors have also recently added to or reduced their stakes in HCSG. Headlands Technologies LLC lifted its holdings in 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 valued at $33,000 after acquiring an additional 955 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Healthcare Services Group by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 1,311 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of Healthcare Services Group by 1.2% in the second quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider’s stock valued at $1,611,000 after purchasing an additional 1,740 shares during the period. Farther Finance Advisors LLC boosted its holdings in Healthcare Services Group by 804.0% during the third 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Healthcare Services Group by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,830 shares of the business services provider’s stock valued at $498,000 after buying an additional 3,252 shares in the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $12.53 on Wednesday. The firm’s 50-day moving average is $11.16 and its two-hundred day moving average is $10.95. The company has a market capitalization of $918.32 million, a PE ratio of 18.16 and a beta of 0.55. Healthcare Services Group, Inc. has a 12-month low of $8.98 and a 12-month high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $428.10 million for 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%. Healthcare Services Group’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. On average, analysts forecast that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on HCSG shares. Robert W. Baird decreased their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.00.

Healthcare Services Group Company 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.