Raymond James Financial Inc. Buys Shares of 508,736 Healthcare Services Group, Inc. (NASDAQ:HCSG)

Raymond James Financial Inc. purchased a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 508,736 shares of the business services provider’s stock, valued at approximately $5,909,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HCSG. GAMMA Investing LLC boosted its holdings 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. Tidal Investments LLC lifted its position in Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 1,276 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Healthcare Services Group by 1.1% during the fourth quarter. Confluence Investment Management LLC now owns 168,841 shares of the business services provider’s stock valued at $1,961,000 after purchasing an additional 1,897 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Healthcare Services Group in the fourth quarter worth approximately $25,000. Finally, Redmond Asset Management LLC grew its holdings in shares of Healthcare Services Group by 2.3% in the fourth quarter. Redmond Asset Management LLC now owns 118,756 shares of the business services provider’s stock worth $1,379,000 after purchasing an additional 2,614 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HCSG has been the subject of a number of recent analyst reports. StockNews.com lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Macquarie started coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They set a “neutral” rating and a $13.00 price objective on the stock. Finally, Benchmark restated a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and a consensus price target of $14.00.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $10.30 on Tuesday. Healthcare Services Group, Inc. has a one year low of $9.70 and a one year high of $12.99. The business’s fifty day moving average is $10.94 and its 200 day moving average is $11.22. The stock has a market capitalization of $756.93 million, a PE ratio of 19.07 and a beta of 0.66.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. As a group, sell-side analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

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.