Charles Schwab Investment Management Inc. Reduces Stock Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Charles Schwab Investment Management Inc. lowered its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,034 shares of the business services provider's stock after selling 253,172 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.63% of Healthcare Services Group worth $13,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position 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 buying an additional 2,428 shares during the last quarter. Headlands Technologies LLC lifted its position in Healthcare Services Group by 44.4% during the second 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 during the last quarter. Financial Management Professionals Inc. boosted its stake in Healthcare Services Group by 85.7% in the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider's stock valued at $91,000 after acquiring an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Healthcare Services Group in the third quarter valued at approximately $116,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Healthcare Services Group in the second quarter worth $124,000. Hedge funds and other institutional investors own 97.97% of the company's stock.

Analyst Ratings Changes

HCSG has been the subject of several analyst reports. StockNews.com upgraded Healthcare Services Group from a "hold" rating to a "buy" rating in a report on Friday. Benchmark reiterated a "buy" rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, October 24th. Finally, Robert W. Baird dropped their price target on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Healthcare Services Group currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Healthcare Services Group Trading Up 1.2 %

Shares of HCSG stock traded up $0.15 during mid-day trading on Monday, reaching $12.57. The stock had a trading volume of 356,827 shares, compared to its average volume of 487,510. Healthcare Services Group, Inc. has a 1-year low of $8.98 and a 1-year high of $13.00. The firm has a market cap of $921.26 million, a price-to-earnings ratio of 18.00 and a beta of 0.55. The business's fifty day moving average is $11.24 and its 200-day moving average is $10.97.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The business had revenue of $428.10 million for the quarter, compared to analysts' expectations of $429.95 million. During the same quarter last year, the company earned $0.17 EPS. The business's revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current year.

Healthcare Services Group Company 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.