Mitsubishi UFJ Asset Management UK Ltd. Purchases 19,000 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

by · The Markets Daily

Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Free Report) by 54.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,000 shares of the business services provider’s stock after buying an additional 19,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. owned approximately 0.07% of Healthcare Services Group worth $603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HCSG. Vanguard Group Inc. boosted its holdings in Healthcare Services Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock valued at $89,488,000 after purchasing an additional 167,779 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Healthcare Services Group during the first quarter worth approximately $3,765,000. Azarias Capital Management L.P. increased its stake in Healthcare Services Group by 50.7% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock worth $12,979,000 after acquiring an additional 412,704 shares during the period. Brandes Investment Partners LP increased its stake in Healthcare Services Group by 12.2% during the 2nd quarter. Brandes Investment Partners LP now owns 1,318,045 shares of the business services provider’s stock worth $13,983,000 after acquiring an additional 142,997 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Healthcare Services Group by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,057,202 shares of the business services provider’s stock valued at $21,766,000 after acquiring an additional 181,231 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

NASDAQ:HCSG traded down $0.12 during trading hours on Friday, hitting $10.62. The company’s stock had a trading volume of 212,809 shares, compared to its average volume of 504,591. Healthcare Services Group, Inc. has a twelve month low of $8.75 and a twelve month high of $13.00. The stock has a fifty day simple moving average of $10.72 and a 200-day simple moving average of $10.94. The company has a market capitalization of $782.12 million, a P/E ratio of 18.63 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Healthcare Services Group had a net margin of 1.82% and a return on equity of 12.58%. The company had revenue of $426.30 million for the quarter, compared to analyst estimates of $424.94 million. During the same period in the previous year, the firm posted $0.12 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Healthcare Services Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HCSG has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and issued a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price target on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Read Our Latest Analysis on Healthcare Services Group

Healthcare Services Group Company Profile

(Free Report)

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.

Further Reading

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