Cerity Partners LLC Cuts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Cerity Partners LLC lessened its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 64.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,131 shares of the business services provider’s stock after selling 23,955 shares during the quarter. Cerity Partners LLC’s holdings in Healthcare Services Group were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HCSG. Sterling Capital Management LLC grew 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 worth $27,000 after buying an additional 2,097 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth $118,000. PharVision Advisers LLC purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth $147,000. Dark Forest Capital Management LP purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth $158,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Healthcare Services Group during the fourth quarter worth $167,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Trading Up 0.2%

Shares of HCSG stock opened at $13.27 on Wednesday. The company’s 50-day moving average price is $14.22 and its 200-day moving average price is $12.38. The stock has a market cap of $960.88 million, a price-to-earnings ratio of 94.79 and a beta of 0.57. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $15.73.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $458.50 million for the quarter, compared to analysts’ expectations of $450.78 million. Healthcare Services Group had a net margin of 0.61% and a return on equity of 11.74%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. As a group, equities research analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HCSG. Wall Street Zen lowered shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group raised shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $15.00 in a report on Thursday, April 24th. Robert W. Baird upped their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Macquarie raised shares of Healthcare Services Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $16.00 in a research report on Tuesday. Finally, Benchmark boosted their price target on shares of Healthcare Services Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.25.

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.