Geode Capital Management LLC Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Geode Capital Management LLC raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,760,971 shares of the business services provider's stock after acquiring an additional 50,375 shares during the quarter. Geode Capital Management LLC owned about 2.40% of Healthcare Services Group worth $19,674,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Headlands Technologies LLC increased its stake in shares of Healthcare Services Group by 44.4% in the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider's stock valued at $33,000 after acquiring an additional 955 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider's stock worth $300,000 after purchasing an additional 1,311 shares during the period. ClariVest Asset Management LLC increased its stake in Healthcare Services Group by 1.2% in the second quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider's stock valued at $1,611,000 after purchasing an additional 1,740 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider's stock valued at $30,000 after purchasing an additional 2,428 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Healthcare Services Group by 15.8% during the 3rd quarter. National Bank of Canada FI now owns 20,877 shares of the business services provider's stock worth $233,000 after purchasing an additional 2,853 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock traded down $0.15 on Friday, hitting $11.52. The company had a trading volume of 328,526 shares, compared to its average volume of 488,450. Healthcare Services Group, Inc. has a 1 year low of $8.98 and a 1 year high of $13.00. The stock has a 50 day moving average of $11.73 and a 200-day moving average of $11.11. The stock has a market capitalization of $844.31 million, a price-to-earnings ratio of 16.70 and a beta of 0.55.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $428.10 million during the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. Healthcare Services Group's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Equities analysts anticipate that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HCSG. Robert W. Baird decreased their target price on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded Healthcare Services Group from a "buy" rating to a "hold" rating in a report on Saturday, December 14th. Benchmark reiterated a "buy" rating and issued a $17.00 target price on shares of Healthcare Services Group in a report on Thursday, December 19th. Finally, Macquarie assumed coverage on shares of Healthcare Services Group in a research report on Monday, December 16th. They issued a "neutral" rating and a $13.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.80.

About Healthcare Services Group

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.