508,736 Shares in Healthcare Services Group, Inc. (NASDAQ:HCSG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 508,736 shares of the business services provider’s stock, valued at approximately $5,909,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Healthcare Services Group by 100.8% during the fourth quarter. GAMMA Investing LLC now owns 2,137 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,073 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Healthcare Services Group in the 4th quarter valued at approximately $25,000. Bank of Montreal Can bought a new stake in shares of Healthcare Services Group in the 4th quarter worth approximately $118,000. Ieq Capital LLC acquired a new stake in shares of Healthcare Services Group during the 4th quarter worth approximately $118,000. Finally, Financial Management Professionals Inc. increased its position in shares of Healthcare Services Group by 32.4% during the fourth quarter. Financial Management Professionals Inc. now owns 10,833 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 2,653 shares during the period. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Stock Up 10.9 %

Shares of Healthcare Services Group stock opened at $13.52 on Friday. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $13.56. The stock has a market capitalization of $985.82 million, a P/E ratio of 25.04 and a beta of 0.62. The company has a 50-day simple moving average of $10.39 and a 200 day simple moving average of $11.09.

Healthcare Services Group (NASDAQ:HCSG) last announced its earnings results on Wednesday, April 23rd. The business services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Healthcare Services Group had a return on equity of 11.76% and a net margin of 2.30%. The business had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. On average, equities analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HCSG has been the topic of a number of recent research reports. StockNews.com downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. UBS Group upgraded shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $12.00 to $15.00 in a research report on Thursday. Finally, Robert W. Baird increased their price target on shares of Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

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.