Y Intercept Hong Kong Ltd Has $1.38 Million Holdings in Healthcare Services Group, Inc. $HCSG

Y Intercept Hong Kong Ltd raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 616.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 74,230 shares of the business services provider’s stock after buying an additional 63,866 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Healthcare Services Group were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Global Investments LLC acquired a new stake in shares of Healthcare Services Group during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in Healthcare Services Group by 163.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,356 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Healthcare Services Group during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC grew its position in Healthcare Services Group by 32.0% during the 4th quarter. Farther Finance Advisors LLC now owns 3,619 shares of the business services provider’s stock worth $69,000 after purchasing an additional 877 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Healthcare Services Group by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,688 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 845 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Trading Down 1.4%

HCSG stock traded down $0.34 during midday trading on Friday, reaching $23.79. The company had a trading volume of 559,512 shares, compared to its average volume of 711,335. The company has a 50 day moving average of $22.18 and a two-hundred day moving average of $20.60. The company has a market capitalization of $1.63 billion, a P/E ratio of 24.78 and a beta of 0.78. Healthcare Services Group, Inc. has a 1 year low of $12.66 and a 1 year high of $25.75.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.22 by $0.15. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The business had revenue of $462.77 million for the quarter, compared to analysts’ expectations of $479.79 million. During the same period in the previous year, the company posted $0.23 EPS. Healthcare Services Group’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark increased their target price on Healthcare Services Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday, April 23rd. BMO Capital Markets upped their price target on Healthcare Services Group from $22.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. UBS Group increased their price objective on Healthcare Services Group from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Research lowered Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Healthcare Services Group Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.