JPMorgan Chase & Co. Purchases 76,456 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

JPMorgan Chase & Co. lifted its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 773,635 shares of the business services provider's stock after acquiring an additional 76,456 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.06% of Healthcare Services Group worth $8,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HCSG. Farther Finance Advisors LLC grew its stake in shares of Healthcare Services Group by 804.0% in 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 in the last quarter. Headlands Technologies LLC grew its position 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 during the period. Financial Management Professionals Inc. increased its stake in shares of Healthcare Services Group by 85.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider's stock worth $91,000 after purchasing an additional 3,774 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Healthcare Services Group by 1,017.5% in the 3rd quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider's stock valued at $1,150,000 after purchasing an additional 9,371 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in Healthcare Services Group in the 3rd quarter valued at about $116,000. Institutional investors own 97.97% of the company's stock.

Wall Street Analysts Forecast Growth

HCSG has been the topic of a number of research analyst reports. Benchmark restated a "buy" rating and issued a $17.00 price target on shares of Healthcare Services Group in a research note on Thursday, December 19th. Macquarie started coverage on shares of Healthcare Services Group in a research note on Monday, December 16th. They set a "neutral" rating and a $13.00 target price for the company. Robert W. Baird cut their price objective on shares of 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. Finally, StockNews.com downgraded Healthcare Services Group from a "buy" rating to a "hold" rating in a research note on Saturday, December 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.80.

Healthcare Services Group Price Performance

HCSG traded up $0.05 during trading on Tuesday, hitting $11.61. 83,926 shares of the stock traded hands, compared to its average volume of 359,978. The business has a 50 day moving average price of $11.91 and a 200 day moving average price of $11.22. Healthcare Services Group, Inc. has a twelve month low of $8.98 and a twelve month high of $13.00. The company has a market cap of $850.91 million, a price-to-earnings ratio of 16.83 and a beta of 0.56.

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

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.