Ritholtz Wealth Management Acquires New Holdings in Healthcare Services Group, Inc. $HCSG

Ritholtz Wealth Management purchased a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 52,699 shares of the business services provider’s stock, valued at approximately $1,008,000. Ritholtz Wealth Management owned about 0.07% of Healthcare Services Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. 8 Knots Management LLC bought a new position in shares of Healthcare Services Group during the third quarter valued at $56,527,000. Ameriprise Financial Inc. raised its stake in shares of Healthcare Services Group by 80.2% during the third quarter. Ameriprise Financial Inc. now owns 1,981,840 shares of the business services provider’s stock valued at $33,354,000 after acquiring an additional 882,213 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Healthcare Services Group by 38.1% during the third quarter. American Century Companies Inc. now owns 1,766,601 shares of the business services provider’s stock valued at $29,732,000 after acquiring an additional 487,608 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Healthcare Services Group by 23.3% during the third quarter. Franklin Resources Inc. now owns 975,954 shares of the business services provider’s stock valued at $16,425,000 after acquiring an additional 184,724 shares during the last quarter. Finally, CSM Advisors LLC raised its stake in shares of Healthcare Services Group by 29.2% during the third quarter. CSM Advisors LLC now owns 762,197 shares of the business services provider’s stock valued at $12,830,000 after acquiring an additional 172,388 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Analyst Ratings Changes

HCSG has been the subject of several analyst reports. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, February 12th. UBS Group set a $25.00 target price on shares of Healthcare Services Group and gave the stock a “buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada assumed coverage on shares of Healthcare Services Group in a research note on Tuesday, March 3rd. They set a “sector perform” rating and a $22.00 target price for the company. Finally, William Blair raised shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.00.

Check Out Our Latest Stock Analysis on Healthcare Services Group

Insider Buying and Selling at Healthcare Services Group

In other Healthcare Services Group news, EVP Patrick J. Orr sold 44,615 shares of Healthcare Services Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $20.53, for a total value of $915,945.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrew M. Brophy sold 2,490 shares of Healthcare Services Group stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the sale, the chief accounting officer directly owned 15,735 shares of the company’s stock, valued at approximately $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 146,962 shares of company stock valued at $3,014,100. Corporate insiders own 2.10% of the company’s stock.

Healthcare Services Group Stock Down 0.8%

Shares of NASDAQ HCSG opened at $19.03 on Wednesday. Healthcare Services Group, Inc. has a twelve month low of $9.13 and a twelve month high of $22.98. The firm has a fifty day simple moving average of $19.97 and a 200 day simple moving average of $18.84. The company has a market capitalization of $1.34 billion, a PE ratio of 23.21 and a beta of 0.80.

Healthcare Services Group (NASDAQ:HCSG – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.21. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. The firm had revenue of $466.68 million during the quarter, compared to the consensus estimate of $467.24 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

About Healthcare Services Group

(Free Report)

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.

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