BNP Paribas Financial Markets Boosts Stock Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

BNP Paribas Financial Markets raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,196 shares of the business services provider’s stock after buying an additional 5,656 shares during the quarter. BNP Paribas Financial Markets’ holdings in Healthcare Services Group were worth $762,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HCSG. Farther Finance Advisors LLC raised its holdings in 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 worth $30,000 after buying an additional 2,428 shares during the last quarter. Headlands Technologies LLC raised its holdings in 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 worth $33,000 after acquiring an additional 955 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Healthcare Services Group by 85.7% in the 3rd 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. International Assets Investment Management LLC lifted its position in 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 acquiring an additional 9,371 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Healthcare Services Group during the 3rd quarter valued at $116,000. 97.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of 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. StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Benchmark reiterated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $12.75 on Thursday. The stock has a market cap of $934.46 million, a price-to-earnings ratio of 18.48 and a beta of 0.55. The stock has a 50 day moving average price of $11.37 and a 200-day moving average price of $11.01. Healthcare Services Group, Inc. has a one year low of $8.98 and a one year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Wednesday, October 23rd. The business services provider reported $0.19 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 prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current fiscal 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.