Raymond James Financial Inc. Takes Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Raymond James Financial Inc. acquired a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 508,736 shares of the business services provider's stock, valued at approximately $5,909,000. Raymond James Financial Inc. owned about 0.69% of Healthcare Services Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Healthcare Services Group by 8.3% in the 3rd quarter. State Street Corp now owns 2,964,325 shares of the business services provider's stock valued at $33,112,000 after purchasing an additional 226,818 shares during the period. Geode Capital Management LLC raised its stake in Healthcare Services Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,760,971 shares of the business services provider's stock worth $19,674,000 after purchasing an additional 50,375 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Healthcare Services Group during the 3rd quarter worth approximately $9,166,000. JPMorgan Chase & Co. increased its holdings in shares of Healthcare Services Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 773,635 shares of the business services provider's stock worth $8,642,000 after purchasing an additional 76,456 shares during the period. Finally, New York State Common Retirement Fund grew its position in Healthcare Services Group by 16.9% during the fourth quarter. New York State Common Retirement Fund now owns 720,267 shares of the business services provider's stock worth $8,366,000 after buying an additional 104,157 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.

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Healthcare Services Group Stock Down 3.6 %

Healthcare Services Group stock traded down $0.39 during trading hours on Friday, hitting $10.35. The stock had a trading volume of 493,800 shares, compared to its average volume of 463,599. The stock has a market cap of $760.60 million, a price-to-earnings ratio of 19.17 and a beta of 0.66. The business's 50 day simple moving average is $10.83 and its 200-day simple moving average is $11.21. Healthcare Services Group, Inc. has a one year low of $9.70 and a one year high of $12.99.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last released its quarterly 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 net margin of 2.30% and a return on equity of 11.76%. Research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

HCSG has been the topic of several analyst reports. StockNews.com lowered Healthcare Services Group from a "buy" rating to a "hold" rating in a 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 target on the stock. Finally, Benchmark reissued a "buy" rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.00.

Healthcare Services Group 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.